BUY strategy after sharp decline of XAU
XAU fell sharply after a sharp spike during the week
could remain above the 2,000 level in the near term, supported by safe-haven demand due to geopolitical instability concerns, a weaker USD and the possibility of interest rate cuts.
In addition, gold is being strongly supported by seasonal factors. According to statistics over the past 6 years, gold has always increased during Christmas.
However, some analysts advise investors to be cautious with gold at these levels and not chase the market.
could remain above the 2,000 level in the near term, supported by safe-haven demand due to geopolitical instability concerns, a weaker USD and the possibility of interest rate cuts.
In addition, gold is being strongly supported by seasonal factors. According to statistics over the past 6 years, gold has always increased during Christmas.
However, some analysts advise investors to be cautious with gold at these levels and not chase the market.
Note
BUY XAU 2030 - 2032TP1: 2060
TP2: 2070
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