Find out why the gold market is attracting a lot of attention
Above this level, the $2100 area is likely to be a major resistance barrier. If the market can break above this level, it could signal a major rally in gold prices. In this scenario, the market could become a "buy-and-hold" type of market, particularly if there are concerns about the economy and people are looking to protect their wealth.racing towards the $2000 level. If the market can break through these two levels, it could be time to start thinking about shorting the market.
However, this would require a very strong US dollar and rising interest rates, which is not currently the case. There is almost no real chance of this on a sustained basis at this point, so I remain confident that gold will continue to offer value. The market remains bullish.It is worth noting that although there is typically a negative correlation between the gold and the US dollar markets, both can go up at the same time. This is often a sign that investors are running for cover and seeking safe havens for their investments.
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