Gold hit $1,900 for the first time in eight months

2022-07-22 0 By

On Thursday, a series of eight months after the event together under the gold back up to $1900 / ounce, events are strong combination, plot shooting (Ukraine geopolitical) + suspense (march fed rate cuts) + disaster (fed officials warned inflation out of control), the recent gold conform to the analysis of last week, the seventh of 1860 a line break is a great chance to judge,With gold prices now back on the strength, the question is, how far can gold go as the upside hedge gets stronger?The strength of the gold price factor, geopolitical risk aversion speculative + + + U.S. stocks down the hedge against inflation + negative + physical demand constitutes the main support of the current gold power, because many factors resonance sex is strong, the current gold strength is rare in the past year, also because it is a factor of resonance support rise, more long ship is not easy to easily turn around,In technical language that is the current gold daily line is an absolute long average, continue to enhance confidence in the bulls.Are there any downside risks that need attention in the short term?As a reminder, the repair risk comes from the COMEX gold 5-day average at 1876 and 10-day average at 1860.Short-term price or wait for the average to move up, or the price actively close to the average to seek support, as for time to change space or space to change time, short-term judgment has little significance, technical repair will not shake the current two years of rare multi-factor resonance support.(Views are for information only)