Gold is diving by almost 3% on Monday
The barbarous relic is experiencing the largest daily loss since June 13, 2022
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On Friday, our paid subscribers received a thorough analysis of gold fundamentals and received a warning about the recent price action. A detailed introduction to the piece is also available for free readers:
This is manifesting today with gold plummeting almost 3%. This reaction comes up to two factors:
Investors piling back into risk assets after Middle East fears somewhat abated.
Significant profit taking.
It would not be a big surprise if prices even fall to ~$2,200. On the other hand, any renewed fears of tensions escalation in the Middle East would trigger gold to spike up again. Retaliation headlines etc.
Most importantly, however, long-term prospects remain intact. These are explained in the aforementioned article with the link provided above the graph.
This is yet another example of how our premium subscribers have been well-informed about current market developments. If you would like to see the previous warning about stocks, it is discussed below:
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Global Markets Investor