Gold prices video 06.01.20
Currently, the market seems to be focusing on the fact that there is so much geopolitical instability, and this will of course continue to have a major impact on what is happening in the gold markets. All things are the same, although we were on an upward trend anyway, so this was probably just the excuse people needed to buy again. I think a pullback is probably healthy, but I would expect there to be a rush to the market somewhere near the $ 1525 level. I'm not interested in selling gold, but I realize the pullback could be pretty brutal.
That being said, market participants are likely to continue to dislike buying gold as we broke out on an important downtrend channel. In doing so, I search for purchase options based on value more than anything else. If all things are equal, it is very likely that we will not only reach the previous highs, but break through.
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