Gold went too far. Forecast as of 12.05.2023
At first sight, gold is rallying on a solid foundation. Many bullish trumps haven't been exploited yet, but they are obviously weakening. That's about both the bank crisis and the market's belief in the Fed's dovish turn. Let’s discuss it and make a trading plan.
Weekly fundamental forecast for gold
The threat of a US default, the bank crisis, the expectations of the Fed's dovish turn in 2023, and the approaching recession of the US economy — these are four reasons for gold's upsurge to historical highs and capital inflows into gold ETFs in March-May, after 11-month outflows. The XAUUSD's... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/437iAdJ
