Article -> Article Details
| Title | Is Now the Right Time to Invest in Gold? Here's What You Need to Know |
|---|---|
| Category | Finance and Money --> Stock Market |
| Meta Keywords | gold rate forecast, gold rate today |
| Owner | Tulsi Das |
| Description | |
| Determining whether it's the right time to buy gold or
invest in gold assets depends on a variety of factors, including your financial
goals, risk tolerance, and overall portfolio strategy. However, for the right
investor, the current economic climate and market conditions may present an
opportune time to consider gold as part of a diversified investment
strategy. After all, gold has long been used as a hedge against
economic uncertainty, inflation, and currency devaluation. In addition, gold's
appeal as a safe-haven asset may increase due to the Federal Reserve's
readiness to lower interest rates and uncertainties in the global economy. So,
according to experts, if you're worried about future market fluctuations or
want to diversify your portfolio, investing a portion of your money in gold can
provide some stability and security. Continued demand from central banks, especially in emerging
countries, has led to a fundamental shift in the perception of gold as a
reserve asset. This rising institutional demand could provide long-term support
to gold prices, making it a desirable investment for long-term investors. However, it is important to look at investing in gold from a
balanced perspective. While gold can diversify portfolios and provide potential
protection against economic downturns, it does not generate income like
dividend-yielding stocks or interest-yielding bonds. Gold prices can also go
down in the short term, so it is best to look at this investment as a long-term
option. Technical Gold Forecast Q 4.2024 During the first quarter of
2024, prices will continue the rally that began in the last months of 2023.
During this boom, the gold rate reached new all-time highs, reaching above
$2,150, $2,400 and eventually reaching $2,600 with a rising wedge pattern,
before confirming the chart pattern and rallying towards new highs in the
coming days. A rising wedge pattern appears as an upward-leaning price
chart that has two converging trendlines. The momentum is in favor of buyers. The Relative Strength
Index (RSI) targets upward in the bullish zone, not in the overbought zone. So,
the path of least resistance is inclined upwards. The first resistance of XAU / USD will be $2,650, followed
by the psychological $2,700 figure. In the event of a pullback, the first
support would be the $2,600 mark, followed by September 18's swing low of
$2,546. A subsequent breach would expose the August 20 high, which turned to
support at $2,531, before it moved towards the September 6 low of $2,485. The price target in the case of a rising wedge is usually
determined by measuring the height of the pattern at its widest point and
subtracting that value from the breakout level. In this case, the target is
$2,750. However, if the gold rate declines in the coming days after the
2,600-breakout level below the support level ($2,550), it will be a sign of
exhaustion and possible decline. ING's gold rate forecast for 2025 The Dutch bank believes
that the long-awaited Fed rate cut will take gold to new heights. The US
presidential election in November will also continue the gold boom until the
end of the year. | |