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📰Market Outlook
The Fed took a hawkish stance and increased interest ratesby 75bps. The increase in interest rates makes instruments such as bonds andbills deposits attractive.
As a result of not expecting an increase in gold in a shorttime, these factors cause prices to fall.
However, I do not expect a much decrease in gold due to thewar tension and other risks, as well as the high inflation rate throughout theworld.
In addition, the excessive increase in interest rates by theFED triggers the risk of recession in the United States.
Therefore, it is unlikely that inflation will be reduced to2%. Maybe it is more likely to reduce inflation to 4% and pay an interest rateof 5-5.5%.
It should not be forgotten that gold has attracted thecuriosity of humanity from the past to the present and has been used to avoidrisks and to secure assets.
📈Technical Analysis
The $1675 level is in a very strong support position.
It is not expected to fall below the $ 1722 level.
Since this month's price close is weak, 1785 gold may beforced next month.
After the monetary expansion after the pandemic, the pricesof many products increased by 2-3 times.
However, gold prices have been flat for 2 years.
It can be thought that gold prices will rise to 2200 or morein the next 2 years.
The next strongest resistance is the $2070 level.
The price could form an ascending contracting triangle pattern.
After testing the 2070 level 1-2 more times, we can see asharp upside break.
It would be helpful to have some gold in your portfolio.
You can buy from the lower support points that you think arecheap.
Good luck, see you soon.
If you found the sharing useful, please do not forget tolike and follow us.
📰Market Outlook
The Fed took a hawkish stance and increased interest ratesby 75bps. The increase in interest rates makes instruments such as bonds andbills deposits attractive.
As a result of not expecting an increase in gold in a shorttime, these factors cause prices to fall.
However, I do not expect a much decrease in gold due to thewar tension and other risks, as well as the high inflation rate throughout theworld.
In addition, the excessive increase in interest rates by theFED triggers the risk of recession in the United States.
Therefore, it is unlikely that inflation will be reduced to2%. Maybe it is more likely to reduce inflation to 4% and pay an interest rateof 5-5.5%.
It should not be forgotten that gold has attracted thecuriosity of humanity from the past to the present and has been used to avoidrisks and to secure assets.
📈Technical Analysis
The $1675 level is in a very strong support position.
It is not expected to fall below the $ 1722 level.
Since this month's price close is weak, 1785 gold may beforced next month.
After the monetary expansion after the pandemic, the pricesof many products increased by 2-3 times.
However, gold prices have been flat for 2 years.
It can be thought that gold prices will rise to 2200 or morein the next 2 years.
The next strongest resistance is the $2070 level.
The price could form an ascending contracting triangle pattern.
After testing the 2070 level 1-2 more times, we can see asharp upside break.
It would be helpful to have some gold in your portfolio.
You can buy from the lower support points that you think arecheap.
Good luck, see you soon.