I am expecting a retracement on Gold once we hit 1912 as it seems like from the current price action as of posting this Gold might go higher.
Again there are multiple factors to why I think Gold is going higher but I will only discuss the main factor as of now below.
Seasonality
This is the biggest factor for Gold to move higher, over the past 5 years, Gold has gave very positive returns for investors through December-February. The USD is also weak seasonally around this time of the year. So it's natural for inflows to strengthen this month for Gold. I am expecting another parabolic move on Gold, like last year's price action during December but not until mid-December, after FOMC at least.
Happy Holidays Traders and stay safe!
Again there are multiple factors to why I think Gold is going higher but I will only discuss the main factor as of now below.
Seasonality
This is the biggest factor for Gold to move higher, over the past 5 years, Gold has gave very positive returns for investors through December-February. The USD is also weak seasonally around this time of the year. So it's natural for inflows to strengthen this month for Gold. I am expecting another parabolic move on Gold, like last year's price action during December but not until mid-December, after FOMC at least.
Happy Holidays Traders and stay safe!
