We are always telling Gold traders that they need to watch the fundamentals before the technicals as anything can happen.
Today the price of Gold shot up due to several factors:
1. The sudden death of Iran’s president in a helicopter crash is a geopolitical event.
2. Tensions in Gaza continue.
3. Jerome Powell, who now has COVID, said last week that there would be no Interest Rate hikes coming soon.
4. China is desperately trying to stabilize its troubled real estate market sending investors to gold as a safe haven.
Today the price of Gold shot up due to several factors:
1. The sudden death of Iran’s president in a helicopter crash is a geopolitical event.
2. Tensions in Gaza continue.
3. Jerome Powell, who now has COVID, said last week that there would be no Interest Rate hikes coming soon.
4. China is desperately trying to stabilize its troubled real estate market sending investors to gold as a safe haven.