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Analysis:
This correction in the gold market. Market watchers generally believe that gold's recent rally, as violent and rapid as a storm, will inevitably usher in a certain wave at some point.
In an interview with reporters, a senior manager of the international department of a state-owned bank in Zhejiang pointed out that the law of the gold market is like the law of nature, rising and falling, and the cycle repeats.
He stressed that gold cannot only rise forever, and the pullback is the inevitable law of market operation.
Further analysis explains that the easing of the situation in the Middle East has gradually weakened the attractiveness of gold as a safe-haven asset. Meantime.
The continued cooling of Fed rate cut expectations during the year, as well as the formation of a strong dollar pattern, have put pressure on the trend of precious metals.
The combination of these factors led to a decline in the price of gold. From a technical point of view:
Gold's technical pattern has taken on a pronounced head pattern.
This indicates that the gold market may usher in a period of correction.
However, for investors, this is both a challenge and an opportunity. Looking for opportunities in the volatility of the market and grasping the pulse of the market should be able to remain invincible in this uncertain gold market;
Gold Price Forecast:
Netizen predictions:
Epilogue:
It is already obvious that if you have entered the gold market now, you will go bankrupt in the future, and you will not be sympathetic at all, and it is already obvious that if you enter the gold market now, you will take over at a high level! One gram of gold is about 150 kilograms of rice, and the price of grain has not risen at all.
Take 1 kilogram of gold to the market and try to see how much rice you can exchange for? You know whether gold is worth anything, gold used to be linked to the US dollar when there was a legal tender as an endorsement, now it is not linked, as a precious metal gold may not be as useful as steel in the life of food, clothing, housing and transportation, gold has become a speculative bargaining chip in the financial industry, whether as a country or an individual has the need and ability to reserve gold is not as good as the reserve of food, steel and energy (oil, natural gas). Precious metals such as grain, steel, oil, natural gas, and gold are all indispensable reserves and strategic resources for the country. There's gold in the chips of mobile phones. Gold is also needed for many high-tech instruments because it conducts electricity well and is resistant to corrosion.
When the environment of the whole earth is not good, and venture capital is difficult to invest in, the real stock market is not good, gold will often usher in a big market in the unit, firmly optimistic about gold, and allocate it with spare money for a long time.
Some netizens said that it was caused by the situation between Iran and Israel, and that it was on the verge of nuclear war. The original information released was that it was going to be done last night, but it didn't move. Before the start of the big rise, is expected discount, once the start, after the upward rush began to cash. Refer to the situation on the day of the start of the Russian-Ukrainian war in 2022. In addition, the logic of the rise in gold itself is not the conflict between Iraq and Israel, but the expectation of the disintegration of the dollar hegemony, the root of the dollar hegemony is the petrodollar, and now Saudi Arabia completely stands on the opposite side of the United States, giving the Houthis $70 billion in aid, and our oil local currency settlement, the military hegemony disintegrates first, and the dollar hegemony has no support, this is the logic of the gold cycle, and Iran and Israel are just a small episode in it, a small cycle in the big cycle
I don't know if it's true