The week ahead; Debt Ceiling talks in focus
Neither the Republican or Democratic party can afford to be blamed for the unbelievable global uproar the U.S running out of money would create.
Neither the Republican or Democratic party can afford to be blamed for the unbelievable global uproar the U.S running out of money would create.
Heading into next week, expect for US debt ceiling negotiations to dominate all news flow.
Gold has unexpectedly dropped below $2,000 for the first time since May 1 as a result of significant strength in the USD. More selling in line for Gold?
As we approach the second half of the month, trading sentiment for global markets from a theme perspective could be a stronger Dollar.
This situation has overall become such a seasonal issue in headlines that no one is really pricing in a realistic probability that the largest economy in the world will actually default.
Due to the Fed’s stance to not provide a narrative on the future outlook of interest rate policy at this moment, what Gold buyers will be hoping for is data showing inflationary pressures are cooling off for the United States economy significantly.
From the technical outlook side of the charts Gold is clearly bullish and buyers found a fresh round of inspiration after punching through $2000 at the beginning of the week. The precious metal should be a central function of an investor portfolio and for good reason.
The Federal Reserve has raised US interest rates over the last year at the fastest pace seen in a generation, but this path is expected to conclude today
Gold buyers have repeatedly threatened to open the doors of $2000 and finally managed to do so on Monday.
Bitcoin and Gold can be considered as investment assets to look upon as star performers during 2023.
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