Although the initial base gain has dropped to the medium settings, the price has managed to maintain key support levels. According to some analysts, this resilience shows the strength of gold and that is a good sign.
In an interview with Kitco News, Christopher Vecchio, head of futures and forex at Tastylive.com, said that the worst days for gold may be over and the precious metal is being prepared. for a recovery period. However, for the time being, gold will still hold near $1,900 an ounce.
Looking to the direction of gold in the long-term, Ole Hansen, Head of Commodity Strategy at Saxo Bank, said that gold is likely to appreciate significantly as the US economy prepares to enter a very low growth period. combined with persistent playback.
Recently, this bank has adjusted its economic outlook for the US in 2024. Accordingly, according to this bank, the leading economy may experience the so-called "lam Phat Dinh Moc", which is characterized by " increase the compositing rate slower with the faster play rate”. This scenario, he said, would confirm that the Fed has lost its long-running war and that further actions could hurt economic growth.
XAUUSD BUY 1913- 1915🕯
✔️ TP1: 1921
✔️ TP2: 1926
🚫 SL: 1905
In an interview with Kitco News, Christopher Vecchio, head of futures and forex at Tastylive.com, said that the worst days for gold may be over and the precious metal is being prepared. for a recovery period. However, for the time being, gold will still hold near $1,900 an ounce.
Looking to the direction of gold in the long-term, Ole Hansen, Head of Commodity Strategy at Saxo Bank, said that gold is likely to appreciate significantly as the US economy prepares to enter a very low growth period. combined with persistent playback.
Recently, this bank has adjusted its economic outlook for the US in 2024. Accordingly, according to this bank, the leading economy may experience the so-called "lam Phat Dinh Moc", which is characterized by " increase the compositing rate slower with the faster play rate”. This scenario, he said, would confirm that the Fed has lost its long-running war and that further actions could hurt economic growth.
XAUUSD BUY 1913- 1915🕯
✔️ TP1: 1921
✔️ TP2: 1926
🚫 SL: 1905
