The rise in the global price of "gold", shall we return to the very high levels?

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Thursday, August 13, 2020 - 17:54
Point Trader Group

Gold prices rebounded today above $ 1,960 an ounce, after retreating slightly due to the unemployment benefits report.

Precious metals spent a hot Tuesday this week! I do not mean the weather, but rather that it was a hot day for precious metals!

Two days ago, the price of gold fell by more than $ 100 in one session, and even fell below the level of $ 1,900 in the next session (on Wednesday). As the chart below shows, the London Gold Fixing price fell from $ 2,044.50 to $ 1,939.65, which is equivalent to more than 5%, which is the worst decline in one session in many years. As for silver, it dropped dramatically, from $ 29 to $ 24.40, more than 15%.

Are you disappointed? No need for that! Are you disappointed when you see the sunset after sunrise? Are you disappointed when there is a cold and rainy day during the summer? You may agree with me, that one day does not confirm or negate the bullish or bearish trend in the long term. When there is a bullish trend in the long term, gold should rise continuously, day after day, in a straight line. Of course, there will be corrective movements opposite to the general trend appearing from time to time, and nothing goes straight forever. There are always ups and downs, as there is in our daily life.

In a report written by (Arcadius Seron) we read: “A correction in the short term will be completely normal, or even desirable. Until July, gold rose gradually and steadily. Therefore, after the surprising rise that we have witnessed recently, it will not The correction is surprising. "


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