Gold Long bias in the coming week

26 de mar. de 2023

Given the recent bank turmoils and potential dampening of risk sentiment driven in part by the price plunge of both the Deutsche and UBS Bank I'd expect a push in the Gold market just because in times of uncertainty, investors tend to put money into less risky assets and with the Dollar, Swiss Franc, Eur currently going through bank issues, Gold and the JPY seems to be the only "safe" "safe haven asset" which basically covers my Gold long bias....A retest of 1938 support level or a break and retest of the $2000 psychological resistance level would signal a long trade setup for me. As always wait for a confirmation and don't just go long once it gets to these levels and apply good risk management.