Dislikedanyone here who is calling 2375 as medium term top for gold. I know today's high was 2378 but in that range 2375-2378 {quote} My thoughts on today's action: Gold fell after the weak US data and as more weak data comes from US it is going to fall. today's upmove is basically a hedge against Israel increasing their presence on rafah border.Ignored
Rate Hicks where Supposed to streghten the USD, so now imagin how gold could react to rate cuts, i belive there is a lot of upside potentiall, speacilly as Inflation data seems to be picking back up again.
A weaker USD means you need more usd to buy that same gold (higher prices)
Who belives the fed will winn the Inflation fight?
In my eyes the US is creating Inflation on purpose to more easaly pay off old depts, so thats bullish for gold, wouldent be suprised for 3.000$ Gold price in late 2024 or 2025.
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