I expect a bearish pattern for XAUUSD for the next 1-2 months, if price hits the 1800-1850 reach i will start hedging buys.
Currently XAUUSD is in a bearish mode.
Rising inflation: Gold is often seen as a hedge against inflation, as its price tends to go up when the cost of living rises. Inflation is currently at a high level in many countries, and there are concerns that it could get worse.
Rising interest rates: Rising interest rates can also support gold prices, as they make it more attractive to investors who are looking for a safe place to store their money.
Geopolitical risks: The ongoing war in Ukraine and the rising tensions between the US and China are also creating uncertainty in the global economy. This could lead to increased demand for gold as investors seek a safe haven asset.
A strong US dollar: A strong US dollar can make gold more expensive for investors who hold other currencies.
A strong global economy: If the global economy starts to grow more strongly, it could lead to a decline in gold prices, as investors become more confident in the future.
Overall, the outlook for gold in the near term is uncertain. However, there are a number of factors that could support gold prices, and it is likely to remain a popular investment for investors who are worried about the global economy.
Currently XAUUSD is in a bearish mode.
Rising inflation: Gold is often seen as a hedge against inflation, as its price tends to go up when the cost of living rises. Inflation is currently at a high level in many countries, and there are concerns that it could get worse.
Rising interest rates: Rising interest rates can also support gold prices, as they make it more attractive to investors who are looking for a safe place to store their money.
Geopolitical risks: The ongoing war in Ukraine and the rising tensions between the US and China are also creating uncertainty in the global economy. This could lead to increased demand for gold as investors seek a safe haven asset.
A strong US dollar: A strong US dollar can make gold more expensive for investors who hold other currencies.
A strong global economy: If the global economy starts to grow more strongly, it could lead to a decline in gold prices, as investors become more confident in the future.
Overall, the outlook for gold in the near term is uncertain. However, there are a number of factors that could support gold prices, and it is likely to remain a popular investment for investors who are worried about the global economy.