forex.pm forex forum binary options trade - Forex - The gold market may have found a second leg
  • Welcome to forex.pm forex forum binary options trade. Please login or sign up.
 

The gold market may have found a second leg

Started by forex4you, Jul 06, 2024, 06:44 am

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

forex4you

The gold market may have found a second leg

The long-term, secular case for gold is that , China, India and the Middle East are buying in increasing amounts. However the gold rally stalled after data revealed that Chinese official gold buying paused in May. There's also some thing of a mania around gold in Chinese retail circles that argues for caution.

However the gold market could be getting a second leg -- at least a short-term one -- due to political and economic uncertainty. I don't need to recap the political side with the French election due on Sunday and huge uncertainty in the US. That's unfolding at the same time as US economic data has taken a turn lower, raising fresh questions about whether this will be a hard or soft landing, along with more rate cuts.

That has left the gold chart looking like this:

I spoke with Kitco on Wednesday about the outlook for gold.



                This article was written by Adam Button at www.forexlive.com.

Source: The gold market may have found a second leg

forexlive.com
Forex4you offers wide range of trading accounts with DDE, NDDE and STP executions including more than 100 instruments. Forex4you is based on MetaTrader 4 trading platform. Clients have the advantage of daily technical and fundamental analysis, one-click trading, economic calendar, mobile trading applications, news and forecasts from Dow Jones (UK) and signals from Trading Central (US). In addition, Forex4you offers Forex dictionary, educational materials and lot of "How to" guides about Forex.

forex4you.com   share4you.com   betiforex.com Forex  beginners-guide-to-iq-option-complete-review forex4you review forex4you Forex4you Review - One of the Best Forex Brokers Forex4you Review - One of the Best Forex Brokers forex4you - PAMM forex broker review and feedback from traders forexbinaryoption.ae aroundworld24.com  Affiliate programs  Forex4you Affiliate programs   



forex4you.com