On gold we can see that price falling 4 months in a row. At the moment we are testing strong support and resistance area which I think will be broken in next weeks. Personally I'm expecting gold to fall all the way back to 1300-1400$ area which will connect us with a trend line and support and resistance area .
We all know that we are seeing high inflation and people are looking for alternatives against it so they investing their money in assets like gold,silver,real estates, watches,... They investing in assets with "FOMO" attitude "I can't miss another boom. Everything will go up because of inflation." This type of investors will be liqudated very soon because they don't have patience to wait for lower prices and also when they don't see a return/profit on investments they got scared and take their money out with losses.
This is the reason why I'm looking for lower prices on gold in next couple of months.
Nothing in this post is a financial advice.
We all know that we are seeing high inflation and people are looking for alternatives against it so they investing their money in assets like gold,silver,real estates, watches,... They investing in assets with "FOMO" attitude "I can't miss another boom. Everything will go up because of inflation." This type of investors will be liqudated very soon because they don't have patience to wait for lower prices and also when they don't see a return/profit on investments they got scared and take their money out with losses.
This is the reason why I'm looking for lower prices on gold in next couple of months.
Nothing in this post is a financial advice.