The price of gold can go up to $1800

Gold’s bottom line outlook is improving but still bullish

Longer term, the gold price should struggle to really start a bullish turn as long as the Fed remains very hawkish, which is very likely until there are more good surprises in the market.

We had a first last week after October inflation came in well below expectations, but the slowdown was mainly due to a review of the medical component, which should not be repeated in the coming months and will not be counted in the Fed’s preferred indicator , PCE inflation.

That said, the price of gold may begin to benefit from the growing prospect of a recession in the global economy. Investors may favor this asset and bonds over the coming months.

Entrance: Purchased for DKK 1750

Stop: $17250

Goal: $1800

Risk/return ratio: 2

Track spot gold prices with IG.

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