The gold price continues to cling to support levels near $1,950 an ounce as it struggles to attract the attention of bullish investors. However, one market strategist said precious metals continue to be well positioned given the declining status of the US dollar as a reserve currency.
Willem Middelkop, founder and chief investment officer of the Commodity Discovery Fund, said in an interview with Kitco News that Fitch Ratings' downgrade announcement last week was an even bigger flashlight in global financial markets. He said that it could be a source of fire that causes
Middelcorp added that recent bond market volatility, with 10-year yields hovering around 4%, is a strong sign that investors are losing confidence in the U.S. dollar.
XAUUSD
BUY 1916 - 1918💯💯
✅ TP1: 1928
✅ TP2: 1934
🛑 SL: 1912
Willem Middelkop, founder and chief investment officer of the Commodity Discovery Fund, said in an interview with Kitco News that Fitch Ratings' downgrade announcement last week was an even bigger flashlight in global financial markets. He said that it could be a source of fire that causes
Middelcorp added that recent bond market volatility, with 10-year yields hovering around 4%, is a strong sign that investors are losing confidence in the U.S. dollar.
XAUUSD
BUY 1916 - 1918💯💯 ✅ TP1: 1928
✅ TP2: 1934
🛑 SL: 1912
