A NEW BUY ZONE ON GOLD ETF GLD — GOLD CAN GO MUCH HIGHER
By Nigam Arora & Dr. Natasha Arora
Technicals
In the short term, gold is very overbought and should pullback. Having said that, positioning in gold by institutions is very light. This means that if institutions start increasing their position, the pullback may only be shallow.
Momo Crowd
The momo crowd in gold is different from the momo crowd in stocks. The momo crowd’s hopium is $3000 gold price in a short time.
Central Banks
Central banks of countries such as India, Turkey, and China are likely to buy more gold if gold dips.
Interest Rate Cut
The Fed has decided to cut interest rates by 50 bps. … Please click here or the title below to read more.
September 20, 2024