I always admit gold is the one that has a unique characteristic on investment field, that is :
1. Psychological of investors drive the trading volume bigger when it’s price rise up rather than when it’s go on correction trend (AMAZING FOMO’s effect).
2. Nowadays, position of gold as a “safe heaven” star gradually reduced as well as development of echnology. People now come with more options to safe their asset’s value, let’s name it : there’s crypto’market and stock’s market that now can easily reach by people to invest with fast and confident.
3. Due to point number “2”, just check the gold’s trend in year 2008 until now. We remember that 15 years a go there’s a global economic crisis called “Subprime Mortgage” that make a fear of people then double up price range of gold from 600-800 to 1200-1800 and it never come back again. Why??? The answer is written on point 2, that 15 years a go “mindset” of people were dominated to think that the only most safe yield to keep is gold. But it has changed now!!
After 3 points explained ahead, now we can conclude why gold’s price not jump to the double range as happened on year 2008 where is in year 2019 until 2023 there’s a continual serious incidents that hit the global (Covid 19, Rusian’s war and Bank Rush).
So guys, I believe that the down correction will happened soon as it usually on market’s price action. It will bring the price on range 1830 to 1950.
Don’t worry be a happy trader! Good luck.
1. Psychological of investors drive the trading volume bigger when it’s price rise up rather than when it’s go on correction trend (AMAZING FOMO’s effect).
2. Nowadays, position of gold as a “safe heaven” star gradually reduced as well as development of echnology. People now come with more options to safe their asset’s value, let’s name it : there’s crypto’market and stock’s market that now can easily reach by people to invest with fast and confident.
3. Due to point number “2”, just check the gold’s trend in year 2008 until now. We remember that 15 years a go there’s a global economic crisis called “Subprime Mortgage” that make a fear of people then double up price range of gold from 600-800 to 1200-1800 and it never come back again. Why??? The answer is written on point 2, that 15 years a go “mindset” of people were dominated to think that the only most safe yield to keep is gold. But it has changed now!!
After 3 points explained ahead, now we can conclude why gold’s price not jump to the double range as happened on year 2008 where is in year 2019 until 2023 there’s a continual serious incidents that hit the global (Covid 19, Rusian’s war and Bank Rush).
So guys, I believe that the down correction will happened soon as it usually on market’s price action. It will bring the price on range 1830 to 1950.
Don’t worry be a happy trader! Good luck.