ANALYSIS
NQ100 Finds Support from PPIApr 14
1878 will be decisive in Gold
Although the increase in expectations for a sharper interest rate hike by the US Federal Reserve has decelerated the precious metal, economies that have not yet fully recovered from the devastating effect of the pandemic, facing geopolitical risks posed by the Russia-Ukraine tension, continue to create demand for gold, the leader of safe haven assets. At this point, if the precious metal, which we believe will maintain its bullish course as long as 1878 support is maintained, and an increase can be observed up to 1917 resistance, if permanent transition will be achieved above 1904 level. On the other side, possible eases below 1878 may deepen to 1865 and 1850.
