Gold ETF demand turns investors into safe havens
Investor sentiment remains positive in the gold market, even as prices dropped below $2,000 last month. A strong price increase at the beginning of the month stimulated interest in gold ETF funds before dropping back down at the end of May.
Concerns about US debt negotiations and the banking sector also led investors to seek safe-haven assets, contributing to a positive trend in May. However, the end of price increases could lead to a closer relationship with the 10-year interest rate, currently below 1.5%, which is historically low for gold.
Concerns about US debt negotiations and the banking sector also led investors to seek safe-haven assets, contributing to a positive trend in May. However, the end of price increases could lead to a closer relationship with the 10-year interest rate, currently below 1.5%, which is historically low for gold.
✅Buy order in the $1,909-$1,912 price zone when the support zone is approached.
✖️Stoploss: $1,905.
✅Sell the $1,958-$1,955 range when the price hits the resistance area.
✖️Stoploss: $1,962.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!