Hexun Investment Advisor Mother Bao Jian: Is gold finally entering the market?

Can gold be entered now? At least I don’t think it is appropriate at this moment.

Hexun’s investment advisor Mu Baojian stated that, firstly, from a technical perspective, this is a daily chart level downward continuation pattern. If we estimate based on the worst and most aggressive scenario, it is possible to return to the price range at the end of 2024 or the beginning of 2025. If we consider a more moderate prediction, it could fall within the range of 3300 to 3500, and the fundamental direction is mainly due to the Federal Reserve’s hawkish stance, which has increased expectations for interest rate hikes by the Federal Reserve.

So what should we do in the short term? First, we should not blindly chase highs. Even if we want to invest, we should at least wait for a pullback to the support area near the previous lows before considering it. From a long-term perspective, we are only focused on one thing: the credibility issue of the Federal Reserve and the credibility issue of the US dollar.

(Author: Shao Xiaohui)

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