🔥🚨 Gold (XAUUSD) Take-Aways
➡️ The gold price will be stably growing in the long term. The historical high was set at $2,073 in May 2023.
➡️ Most expert analysts predict that the XAUUSD rate will rise. The precious metal is expected to update its historical peak: the rate may exceed $2,300 in early 2024.
➡️ The price will continue to rise in 2025 - 2030. In optimistic scenarios, the rate will go above $3,000. Still, deep corrections to $1,928 are also possible.
➡️ The gold price rises during market instability and amid high demand for precious metals. The XAUUSD is considered an excellent long-term investment asset.
🔥🚨 How to make Forecast ?
➡️Fundamental analysis:
allows you to track changes in monetary policy and other factors affecting the price of precious metals. First of all, these are changes in the global financial system and the actions of the US central bank.
Therefore, it is extremely important to take into account various macroeconomic indicators: federal funds rate changes;
1) inflationary expectations;
2) currencies’ movements and the money supply size
3) balance of imports and exports.
🌟 Remember that fundamental analysis is commonly used in predicting global trends.
➡️Technical analysis:
This approach includes studying the history of XAUUSD quotes on charts using indicators and other tools for analyzing price movements. Technical analysis can help determine support and resistance levels, trend lines, possible price breakouts and reversals both in the long term, and in intraday trading.
Gold has a directional movement in the long term. Therefore, for technical analysis, trend indicators such as Moving Averages, RSI, MACD, and Bollinger Bands are primarily used.
➡️Market sentiment analysis:
This approach consists in assessing the mood of buyers and sellers, namely, who has a dominant position in the market at the moment. Market sentiment analysis instruments include surveys, content monitoring in social networks, and specialized online platforms, such as litefinance.org.
It is important to remember that market sentiment can change very quickly. It is influenced by future gold price forecasts from professional analysts or, for example, by what information Fed Chairman Jerome Powell will provide.
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