The gold market returned to around $1,300 per ounce, and the upside still faced resistance and failed to move higher.
J. According to Jay Taylor of Taylors Gold, Energy & Tech Stocks, in the current environment, there should be some gold in whatever happens. incurrencyIn the face of depreciation pressure, gold is an excellent hedge option.
The US debt pressure is huge, the burden will become heavier after the Fed raises interest rates, and its contraction is also facing great difficulties, and the stock market will be under pressure.
Taylor believes that in the long run, the Fed is likely to return to QE.
Although this situation is not expected, in the current environment, this is highly probable.
However, if the price of gold really rises, we must pay attention to the performance of the stock market. At present, the overall US stock market is still more confident. Only when the stock market really falls back can the gold price rise.
If the stock market shows a significant downside, the chance of gold will come.
Taylor said that he is optimistic about the gold market outlook.
Gold has to cross the key 1350 to 1360 USD/oz resistance zone, and the next target is $1,700 per ounce, which may not be reached this year, but it is entirely possible in the next year or two.
(Article source: Gold headline)