What a year it has been with the main scenario turning around inflation and interest rate cut expectations across the world; To that, we can add the multiple conflicts around the world effecting trade and business. With that being said and with the 2nd quarter coming to an end in the next 30 days, The big picture is taking form and I believe we will soon have some great buying opportunities in Gold. Fundamentally, I am biased on a no interest rate cut this year 2024 therefore we will observe a stronger dollar. This will present good prices to get into gold and by that time in 2025 we will potentially already have some cuts which will support a gold move higher after locking in some long entries.
On a technical basis, I've been following the price action and it has been moving accordingly to all the levels identified. Therefore, I am continuing to follow the price to lock in some longs.