• August 15, 2022 21:36

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Gold: Just a quick suggestion.

Aug 6, 2021
Gold: Just a quick suggestion.

Gold: Just a quick suggestion.

 

U.S. private sector jobs figures for the past month may have disappointed, falling to just 330,000, from 680,000 two months ago, and expectations were at 695,000. There may not be a complete correlation with U.S. non-farm job figures tomorrow, but Friday’s U.S. job numbers must rise above 1 million to make a logical difference and change the current slow market trajectory.

First, key currency pairs we monitor:

 

Euro/$$

Buying the euro is not only linked to tomorrow’s figures, but also to the construction of positions we started from $1.17 about five months ago. The euro reached $1.22 two and a half months ago. We expect a consensus in monetary policy adjustment and the European recovery will be better than Asia and Japan. Euro/$ currently at $1.1830.

 

Second, commodities (SE:1211) are precious)

Gold is currently trading at $1,810 an ounce. We haven’t bought in a long time and closed old purchases when the gold reached $1900/50 and of course as you know the gold yesterday reached $1831. I prefer not to enter right now, Chinese inflation is not currently convincing, and the level of U.S. inflation has been priced. Don’t forget that gold has still lost -4.5% of its value since the beginning of 2021. The U.S. dollar remains the main criterion for gold fluctuations and real U.S. yields are currently negative, america is the engine.

 

For those who want to buy: Buy real gold (bullion), and sell on trading platforms.

In case of decline, dear trader will win from selling on the platform, and you still have real gold so don’t sell it but keep it in order to ensure that it is used in two cases, rise later or sell it as an original commodity that gives you real value especially if you are in a country with high inflation and the currency is weak (Turkey, Iraq, Lebanon and others). If gold rises, then you can close the sale directly on the platform because it is faster and easier to sell in the real market.

 

Note: This is just a personal diligence and a suggestion and not a recommendation to sell or buy.

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