🎁What the Tigers Say | Will Gold Hit New High in 2023？When？
Hi Tigers，Welcome to ”What the Tigers say” [Cool]
This is a weekly column planned to share the great opinion from Tigers on specific topic and today our Theme is gold investment.
The latest CPI data is lower than expected, the $USD Index(USDindex.FOREX)$ r plunges, and gold price $Gold - main 2306(GCmain)$, $SPDR Gold Shares(GLD)$ and $VanEck Gold Miners ETF(GDX)$is approaching its previous high in 2022.
Below are the performances of key gold futures and ETFs performances，will gold hit new high or come to a short-term top？what do you think? Welcome to comment to win Prizes.
Before you join to share your own opinion or trading skills, welcome to 3 core insights on gold trends from @程俊Dream , @Callum_Thomas and @AlexPoonFOTrading. And at the bottom there are a full tickers list for Gold investing.
🎁Special Notes: Whomever showed on”What the Tigers say” column will receive 100 Tiger Coins and exclusive interviews invitation for honor of your contribution.
By Futures' Pro
Click Titles to read full analysis:
1. @程俊Dream: How the Dollar trend affects Gold Prices in Q2 2023?
程俊Dream：CME Contributing Instructor
Key Points:
In the short term till the end of April, the Dollar may fail to fight back, then it may rebound in June and July. However, the long-term time period of the dollar is very unfavorable, and the theoretical goal will point to around 97.
Thus under the dollar's weak in the short term, gold may still be in the process of rising, and Gold bulls may test the area between $2060 ~ $2070 by historical model calculation.
Some other risk may for gold's trend includes silver's performance' dragging, and speculative funds' more reverse positions on gold, these show the market may lack new follow-up buying in the short-term.
2.@Callum_Thomas: Chart of the Week - Portfolio Allocations to Gold
Callum_Thomas:Head of Research, Founder:@topdowncharts
Key Points:
Gold has been (and likely will continue to be) boosted by falling bond yields and a weaker US dollar.
With gold making yet another attempt at breaking out through that all-important US$2000 level, it’s worth reflecting on this pair of charts.
Despite a 25% rally, investors have light allocations (based on ETF market assets) to gold, seems positioning/flows/sentiment still has ample room to run.
The investors implied allocations to gold remain well below the long-term average, and well below the gold bull market years.
But remember that gold is not an inflation hedge only, it’s also the best invests option in an environment of falling inflation, especially recession, as where monetary conditions will ease (lower bond yields, pivot in Fed policy from tightening to easing, weaker USD).
3.@AlexPoonFOTrading: Gold Might Hit a Record High in 2023
CFA, Derivatives Analyst
Key Points:
A strong dollar pressed gold in 2022, but it is expected the dollar will be on the defensive in 2023, then the recession will also likely press the dollar which will give a strong boost to gold demand.
The deeper the recession, the higher the gold will rise. Historically, gold will outperform in the event of a recession.
Also, with the stronger demand from China expected to rise after 3 years of covid zero restrictions, gold will also be a good hedge against any potential debt or economic crisis.
Technically focus: the first important resistance is around 1,880, followed by a physiological resistance of $2,000 before challenging the record high. It is recommended to stop losing the position if gold retreats to $1,730.
What the above opinions mean to you? Welcome to read full article through link and share you opinion, below are Top Funds for Investing in Gold from Tiger trade.
Below are the Best Gold ETFs in the US, SG, HK, and AU stock markets:
US Market ETF:
$VanEck Gold Miners ETF(GDX)$, $ProShares Ultra Gold(UGL)$, $VanEck Junior Gold Miners ETF(GDXJ)$, $GraniteShares Gold Trust(BAR)$, $SPDR Gold MiniShares Trust(GLDM)$
$abrdn Physical Gold Shares ETF(SGOL)$, $iShares Gold Trust(IAU)$, $SPDR Gold Shares(GLD)$, $ProShares UltraShort Gold(GLL)$
SG Market ETF:
AU Market ETF:
$VANECK GOLD BULLION ETF(NUGG.AU)$, $ETFS Physical Gold(GOLD.AU)$, $Perth Mint Gold(PMGOLD.AU)$, $BetaShares Gold Bullion Currency Hedged(QAU.AU)$
HK Market ETF:
$FL2CSOPGOLD(07299)$, $VALUEGOLD ETF(03081)$, $SPDR GOLD SHARES(02840)$, $FI CSOPGOLD(07374)$
🎁Comment to win Prizes
What’s your trend forecast on Gold?
Did you trade Gold futures or ETFs before?
Which is your most bullish Gold target in 2023?
🐯 All valid comment on the following post will receive 5 Tiger Coins.
🐯 The First 10 and Last 10 Commentator with qualified comments will receive another 10 Tiger Coins.
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⏰Duration
24 April (24pm EDT)
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“Gold price forecast for 2023 and beyond
The banking group anticipated the precious metal trading at $2,000 by the late 2023, accelerating to $2,075 by September 2024.”
@LMSunshine @Aqa @Universe宇宙 @GoodLife99 @HelenJanet @rL
As of now, there should be little upside to gold price and I will likely sit out
🌟🌟🌟Spot Gold prices dropped to USD 1982.93 on Friday as good US PMI data lifted the US Dollar. Gold prices hit USD 2000 in March amidst the turmoil in the US Banking sector caused by the Silicone Valley Bank collapse as investors regard Gold as a safe haven asset.
I believe that if the Feds signal a pause in interest rates, then Gold would move higher. In 2019 gold rallied over 60% to a new high when the Feds paused rates hikes. So Gold Prices may hit USD 2050 from mid 2023.
I am currently looking at investing $VanEck Gold Miners ETF(GDX)$ It is up 9% in just 1 month and 18% YTD. In just 1 trade, I gain access to the world's largest gold mining companies which include $Newmont Mining(NEM)$ $Barrick Gold Corp(GOLD)$ and many others. GDX also pays dividends and the current dividend yield is 1.4%.
GDX is a great hedge against high inflation and provides me with a diversified portfolio. Best of all it is low cost and minimises my risk on single stocks.
@Futures_Pro
I don't trade gold futures or ETFs.. not yet
come n join @kungpao @willwees @wine18 @Bons
So just went short GDXJ, to hedge my long positions in aussie miners.