Further upside on gold led by Geopolitical RiskPublished On: 14 March 2022, 10:15 AM | Jason Chua, Dealer
Gold is a very popular instrument in our investment portfolio, as it is often viewed as a safe-haven instrument to hedge against uncertainty.
Looking at the chart, Gold prices have went up in the past few weeks, partly due to the Russia – Ukraine war.
Gold prices is expected to remain bullish due to various reasons:
- Inflationary concerns. Recent CPI data shows US still having high inflation rates
- Gold as a means of safe-haven asset in times of uncertainty
- Reduced supply in gold, due to sanction on Russia (whom is a major producer of Gold)
Prices have slightly retreated recently, after facing resistance of its previous high of 2072.94. This may be an entry opportunity for bulls to enter.
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