There are still no signs of gold turning around
#XAUUSD Analysis 12/15
🔵First purchase: 2030-2032 (Stop: 2026)
🔵Entry purchase: 2007-2012 (stopped: 2003)
✅Goal: 2070
- Gold spiked and the Fed indicated current interest rates were still the same, but this led to a sharp drop in DXY and vice versa. Gold recovered and reached $2,048 per ounce.
- As gold reaches new highs, we see both the buy and sell sides continue to argue about the balance. Traders can either wait to buy in the current price range from 2030 to 2032 or wait for a recovery for more certainty.
We wish retailers an effective translation strategy.
George Milling says the Federal Reserve's signal that interest rates will fall in 2024 has created healthy momentum for gold, which is likely to hit new all-time highs in the new year. -Stanley, Director of Gold Strategy, State Street Global Advisors.
"As gold gains momentum, there is no telling how high prices will rise. It is very likely that we will reach all-time highs next year," George Milling Stanley emphasized.
Milling-Stanley is bullish on gold prices, but he adds that he doesn't expect a breakout to occur anytime soon. He noted that the Fed is aiming to cut interest rates next year, but questions remain about when it will pull the trigger. He added that due to timing issues, precious metals prices will remain at current levels in the short term.
According to State Street's official forecast, Milling Stanley's team sees a 50% chance that gold will trade between $1,950 and $2,200 an ounce next year. At the same time, the company sees a 30% chance of prices falling between $2,200 and $2,400 per ounce. And State Street sees only a 20% chance that gold could trade between $1,800 and $1,950 an ounce. Milling-Stanley said the health of the economy will determine how much gold prices rise.
Gold's upside potential is expected to attract new strategic investors, while long-term support for gold suggests continued momentum into 2024, Milling Stanley suggests. .
Milling-Stanley said China remains the most important driver of the physical gold market, as slowing economic growth and instability in financial markets could cause many consumers to exit the market. in an environment of soaring prices. Finally, continued central bank gold purchases will bring a new paradigm shift to the market.
🔵First purchase: 2030-2032 (Stop: 2026)
🔵Entry purchase: 2007-2012 (stopped: 2003)
✅Goal: 2070
- Gold spiked and the Fed indicated current interest rates were still the same, but this led to a sharp drop in DXY and vice versa. Gold recovered and reached $2,048 per ounce.
- As gold reaches new highs, we see both the buy and sell sides continue to argue about the balance. Traders can either wait to buy in the current price range from 2030 to 2032 or wait for a recovery for more certainty.
We wish retailers an effective translation strategy.
George Milling says the Federal Reserve's signal that interest rates will fall in 2024 has created healthy momentum for gold, which is likely to hit new all-time highs in the new year. -Stanley, Director of Gold Strategy, State Street Global Advisors.
"As gold gains momentum, there is no telling how high prices will rise. It is very likely that we will reach all-time highs next year," George Milling Stanley emphasized.
Milling-Stanley is bullish on gold prices, but he adds that he doesn't expect a breakout to occur anytime soon. He noted that the Fed is aiming to cut interest rates next year, but questions remain about when it will pull the trigger. He added that due to timing issues, precious metals prices will remain at current levels in the short term.
According to State Street's official forecast, Milling Stanley's team sees a 50% chance that gold will trade between $1,950 and $2,200 an ounce next year. At the same time, the company sees a 30% chance of prices falling between $2,200 and $2,400 per ounce. And State Street sees only a 20% chance that gold could trade between $1,800 and $1,950 an ounce. Milling-Stanley said the health of the economy will determine how much gold prices rise.
Gold's upside potential is expected to attract new strategic investors, while long-term support for gold suggests continued momentum into 2024, Milling Stanley suggests. .
Milling-Stanley said China remains the most important driver of the physical gold market, as slowing economic growth and instability in financial markets could cause many consumers to exit the market. in an environment of soaring prices. Finally, continued central bank gold purchases will bring a new paradigm shift to the market.
Comment:
🔵ENTRY BUY: 2035-2038(STOP: 2028)
✅Target date: 2070
- As predicted yesterday, gold touched the 2032 zone and rebounded to reach the expected mark. In today's morning session, gold gapped sharply through the 2047 resistance zone
- It is very possible that gold will create a new uptrend, but you need to wait for gold to create a clear uptrend before buying.
- Traders can watch to buy when gold has a retest rhythm or buy and chase if gold increases strongly again to completely break this resistance area.
Wishing traders an effective translation strategy.
✅Target date: 2070
- As predicted yesterday, gold touched the 2032 zone and rebounded to reach the expected mark. In today's morning session, gold gapped sharply through the 2047 resistance zone
- It is very possible that gold will create a new uptrend, but you need to wait for gold to create a clear uptrend before buying.
- Traders can watch to buy when gold has a retest rhythm or buy and chase if gold increases strongly again to completely break this resistance area.
Wishing traders an effective translation strategy.
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🔴9-12 signals per day
🔴Free knowledge support
🔴24/7 support for newbies.
🔴You always have priority.
t.me/TheLeader_WOLF
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