GOLD - Is falling gold a good buying opportunity?
In the international market, according to Kitco, the world gold price at 9am this morning (Vietnam time) increased by 0.23 USD, or 0.01%, to 1,932.74 USD/ounce.
According to a survey by the CME Fedwatch gauge, traders think there is a 77% chance the Fed will raise rates by 0.25 percentage points in July.
If the rate increases, there is a high chance that gold will fall in price, as it is a non-yielding asset class.
According to Bloomberg Intelligence, FOMO syndrome (fear of missing out) will dominate gold during the economic downturn in the second half of this year.
This will cause a sell-off in the stock market. At that time, the price of gold is forecasted to increase to 3,000 USD/ounce.
Mike McGlone, a macro economist at Bloomberg Intelligence, said that the main force of central banks in the world will contribute to boosting gold prices sharply.
GOLD BUY LIMIT 1927 - 1930
✅ TP1: 1935
✅ TP2: 1942
✅ TP3: 1950
🛑 SL: 1920
According to a survey by the CME Fedwatch gauge, traders think there is a 77% chance the Fed will raise rates by 0.25 percentage points in July.
If the rate increases, there is a high chance that gold will fall in price, as it is a non-yielding asset class.
According to Bloomberg Intelligence, FOMO syndrome (fear of missing out) will dominate gold during the economic downturn in the second half of this year.
This will cause a sell-off in the stock market. At that time, the price of gold is forecasted to increase to 3,000 USD/ounce.
Mike McGlone, a macro economist at Bloomberg Intelligence, said that the main force of central banks in the world will contribute to boosting gold prices sharply.
GOLD BUY LIMIT 1927 - 1930
✅ TP1: 1935
✅ TP2: 1942
✅ TP3: 1950
🛑 SL: 1920
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