Some Key factors 🔑 that can affect the price of gold 💰:
Inflation: Gold 💰 is often seen as a hedge against inflation 🔥, as its price tends to rise ↗️ when inflation 🔥 is high. This is because gold 💰 is a finite resource 💎 that cannot be inflated away 💨.
Interest rates: When interest rates 💴 are low, gold 💰 becomes more attractive as an investment, as investors can earn a higher return 📈 by holding gold 💰 than by holding cash 💵 or other low-yielding assets 🥱.
Economic growth: Gold 💰 is also seen as a safe haven asset during times of economic uncertainty ⚠️. When economic growth 📈 is weak or negative ⬇️, investors may flock to gold 💰 as a way to preserve their wealth 💰.
Geopolitical events: Gold 💰 can also be affected by geopolitical events 💥, such as wars ⚔️ or political instability ⚠️. These events can cause investors to worry about the safety of their investments 💰 and flock to gold 💰 as a safe haven.
The overall trend looks a part of a cypher pattern where XABC has already formed and the last point D is be confirmed.
On The daily chart it is forming a downtrend channel which indicates a weakness
On weekly basis, its currently trading below 20 EMA (1932), a first sign of weakness in bigger time frame.
If a cypher pattern is formed, we can see a 1715 levels by 12th Feb'2024
We will keep a close track and update
Inflation: Gold 💰 is often seen as a hedge against inflation 🔥, as its price tends to rise ↗️ when inflation 🔥 is high. This is because gold 💰 is a finite resource 💎 that cannot be inflated away 💨.
Interest rates: When interest rates 💴 are low, gold 💰 becomes more attractive as an investment, as investors can earn a higher return 📈 by holding gold 💰 than by holding cash 💵 or other low-yielding assets 🥱.
Economic growth: Gold 💰 is also seen as a safe haven asset during times of economic uncertainty ⚠️. When economic growth 📈 is weak or negative ⬇️, investors may flock to gold 💰 as a way to preserve their wealth 💰.
Geopolitical events: Gold 💰 can also be affected by geopolitical events 💥, such as wars ⚔️ or political instability ⚠️. These events can cause investors to worry about the safety of their investments 💰 and flock to gold 💰 as a safe haven.
The overall trend looks a part of a cypher pattern where XABC has already formed and the last point D is be confirmed.
On The daily chart it is forming a downtrend channel which indicates a weakness
On weekly basis, its currently trading below 20 EMA (1932), a first sign of weakness in bigger time frame.
If a cypher pattern is formed, we can see a 1715 levels by 12th Feb'2024
We will keep a close track and update
Dagangan aktif
1960 if crosses then the pattern will become invalidNota
Downside pressure continuesDagangan aktif
Downside pressure continuesDagangan aktif
1858 low made, almost 4 % plus downDagangan aktif
gold cracked heavily, made a low of 1846, weakness still continues, we can see more fall in thisDagangan aktif
weakness continues, made a low of 1815, almost 6 % plus correction , enjoy the rideDagangan aktif
some pullback is expected as it touched the lower channel bottomDagangan aktif
as expected gold bounced to 1865 levels
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.