Gold: Time to take profit
Gold is considered as safe-heaven during turbulence on the market. It was demonstrated by the last couple of months outperformance.
However, the price level on Fibonacci's scale signals a good time for investors to take profit.
The 2% inflation target is still far away but the fed is raising the US interest rate on a slower path and the recession for 2023 seemed to be priced in the market, so the investors may switch to riskier assets.
However, the price level on Fibonacci's scale signals a good time for investors to take profit.
The 2% inflation target is still far away but the fed is raising the US interest rate on a slower path and the recession for 2023 seemed to be priced in the market, so the investors may switch to riskier assets.
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