
The G20 summit took place in Bali, Indonesia, on November 2022…
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Gold has almost returned to its March high after the recent huge pullback. Little wonder, since the movement was supported by fears about the prolonged global recession because of the COVID-19.
Gold is a safe-heaven asset in the time of uncertainty. And indeed the current situation is very uncertain: more than 1.8 million people have been infected and nearly 115,000 have died.
According to UBS: “led by Fed easing, we now expect real U.S. interest rates to dip deeper into negative territory”. If interest rates go down, the gold price will increase as lower interest rates will make stocks and bonds less attractive for investors.
Let’s look at the daily XAU/USD chart. After the huge decline from 1,693 to 1,473 during ten days, the gold price rebounded its position. Now it’s heading toward the 1,700 mark. The most probable scenario is bullish as it almost breaks through the resistant line of 1,693. Also, gold is one of those assets that trend really strongly. However, short contractions might be on the way up. Support lines are at 1,641 and 1,600.
Also if we look back at the 2008 crisis. The gold price was going up for a really long time. The economical situation these days is quite similar.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
eurusd-is-falling-what-to-expect-from-the-future-price-movement
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus
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