XAUUSD - Gold price keeps going down, is it time to buy yet?
Updated
While there is still plenty of optimism that global gold could regain its luster later this year, analysts warn investors that a lot of short-term technical damage has been done and the metal quarter has the potential to decrease in the near term.
Analysts note that despite high economic uncertainty as China's economy shows signs of stress, the precious metal has not received much interest from investors as an asset. safe haven. Rising bond yields, reaching 15-year highs in their 15th year, have become a significant area of competition for gold.
Some analysts note that my holding of a 3-month Treasury note with a 5% yield has made gold more attractive. "The US economy isn't going to crash overnight, so you'd be foolish not to invest in limited bonds," said Adrian Day, president of Adrian Day Asset Management. "But short-term Treasuries are just a parked car. It's not a long-term investment."
Analysts note that despite high economic uncertainty as China's economy shows signs of stress, the precious metal has not received much interest from investors as an asset. safe haven. Rising bond yields, reaching 15-year highs in their 15th year, have become a significant area of competition for gold.
Some analysts note that my holding of a 3-month Treasury note with a 5% yield has made gold more attractive. "The US economy isn't going to crash overnight, so you'd be foolish not to invest in limited bonds," said Adrian Day, president of Adrian Day Asset Management. "But short-term Treasuries are just a parked car. It's not a long-term investment."
Note
XAUUSD BUY 1883-1885🕯✅ TP1: 1890
✅ TP2: 1898
⚠️ SL: 1878
Note
Running +20Pips ✅✅Note
HIT TP1 + 90Pips ✅✅
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