After a sharp gold pullback, the technical aspect has undergone a "major turnaround"! FXStreet's chief analyst analyzes the technical prospects of gold.
In Thursday's Asian session, spot gold moderately rebounded after yesterday's sharp decline, with the current gold price near $2722 per ounce. FXStreet Chief Analyst Valeria Bednarik pointed out that the target for gold is to expand its corrective decline, possibly breaking below the $2700 per ounce level.
Renowned economist warns: Is the surge in gold prices leading to a new era of gold driven by global financial changes?
The price of gold fell by more than 1% on Wednesday after reaching a historical high, mainly due to profit-taking triggered by the strengthening of the US dollar and the rise in US Treasury yields.
Gold dives nearly $40! Is the pullback just temporary?
Gold fell on Wednesday due to profit-taking, but analysts believe that the price of gold is still bullish in all aspects, with short-term attention on the resistance level...
How to chase the "gold" wave? These gold mining stocks may welcome a good opportunity, with the highest doubling in the year.
Due to the rising mining costs and high corporate interest rates in recent years, the performance of gold mining stocks has been poor, but with the decrease in energy extraction costs and the rise in gold prices, the leverage effect of operation may help gold mining stocks outperform physical gold in the gold bull market.
Institutions: Silver is the strongest in decades, with weak oil fundamentals but high risk of recent soaring.
Citigroup believes that as geopolitical conflicts intensify, central banks around the world will have strong demand, and gold as a safe-haven asset is expected to rise to $3000 per ounce in the next year. When sentiment weakens in developed markets, silver usually experiences its strongest bull market. Citigroup expects silver prices to rise to $40 per ounce in the next year. Additionally, Citigroup believes that fears of short-term supply shortages may push oil prices up to $120 per barrel.
"All roads lead to inflation," the legendary investor announced that he will be bullish on gold and bitcoin.
Legendary American investor and billionaire hedge fund manager Paul Tudor Jones said that he holds gold, bitcoin, and the CSI Commodity Equity Index. He believes that regardless of who is elected president, inflation in the USA will rise.