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
İşlem aktif
1960 if crosses then the pattern will become invalidNot
Downside pressure continuesİşlem aktif
Downside pressure continuesİşlem aktif
1858 low made, almost 4 % plus downİşlem aktif
gold cracked heavily, made a low of 1846, weakness still continues, we can see more fall in thisİşlem aktif
weakness continues, made a low of 1815, almost 6 % plus correction , enjoy the rideİşlem aktif
some pullback is expected as it touched the lower channel bottomİşlem aktif
as expected gold bounced to 1865 levels
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.