📌 Intergold Weekly News
Gold news summary of the week EP108
Date 04 May 2024
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Gold has been hit by heavy news in the past week. US economic numbers caused gold to rise sharply, especially Friday’s earnings numbers which came out worse than expected and This is the first time we have priced saw gold drop below 40,000 baht in almost 2 months, sailors started laughing as the price started to flow down. Let’s see what the gold trend will be next week. This news has the answer.
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1. The price of gold still has a chance to drop down to 38,500 baht or $2,200 Currently, the price of gold has dropped below 40,000 baht and it is considered to be a period of gold prices that must be sent a – in gradually. Because the price is considered to be reduced to be collected. Medium to long term line or not yet available? There should be some in the portfolio, which is considered as risk diversification, about 10 – 20% of the portfolio If the price falls further, you can buy it gradually.
2. Big picture technical factors The trend is still up. In the past, the price has gradually increased to the highest level. Therefore, if it is going up, it must be going down to rest. This is normal.
3.Overview of US economic news numbersetc. It turned out not very well. This makes the Fed still not confident in issuing an interest rate reduction policy because the inflation numbers have not yet decreased as expected. But news about the Fed’s reduction in the amount of money withdrawn This news has a positive effect on gold prices. Causing the price of gold to go back over $30 and gradually flow down. Because the overall picture is still waiting for the number of interest rate cuts from the Fed.
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Strategy:
On the technical side, next week the price of gold has a chance to rest at 38,500 baht or $2,200 in the short term, it is better to wait to see next week’s price again. In the long term, buying gradually is recommended in case gold goes up again.
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2024-05-04 06:31:00
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