$Barrick Gold Corp(GOLD)$ Gold

Gold prices tested the highest levels since June before the December FOMC meeting as the market attempted to price in peak rates. Prices are still toying with the 200-day moving average, with support around USD 1,720/oz and resistance around USD 1,840/oz. Gold has been caught between USD strength, faster-than-expected rate hikes, multi-decade high inflation and the looming risk of recession. The physical market has proved to be price-elastic, providing a cushion on the downside. While we expect some themes to persist in 2023, such as a responsive physical market floor, we expect some headwinds to recede, such as the 75bps Fed rate hikes. Elevated rates and broad USD strength are still likely to cap upside momentum, but we believe the bulk of the downside is priced in already. ETF holdings stabilising will be key to watch.

💰 Stocks to watch today?(17 May)

1. What news/movements are worth noting in the market today? Any stocks to watch? 2. What trading opportunities are there? Do you have any plans? 🎁 Make a post here, everyone stands a chance to win Tiger coins!

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Comments

jeffry09
2022-12-19
jeffry09
Any kind of hint/pause in interest rate increases is going to apply upward pressure on GOLD. I suspect that much cheaper fuel prices will definitely contribute to higher earnings for GOLD going forward as well. Buy and hold but keep buying especially on any pullback.
fishinglo
2022-12-19
fishinglo
Obviously GOLD will not go up in a straight line. I've been following markets for more than 20 years and I have never felt the conviction that I do now that it is finally time for gold and silver to make a solid run.
YeddaJohnson
2022-12-19
YeddaJohnson
Gold standard coming soon all over the world. The paper fiat dollar is history, and all the smart money knows it.
ed62
2022-12-17
ed62
thanks for sharing 🙏
ed62
2022-12-17
ed62
noted with thanks
pennylks
2022-12-19
pennylks
[Like]

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