Gold: The beginning of a secular bull market to US$1,920
THE bull run on gold is only taking a breather for now. There has been an aggressive sell-off in gold in the past few weeks due to the new hawkish language from the Fed over plans to unwind its balance sheet reduction.
We are unfazed by this. The tightening of the Fed's monetary policy should not hinder the current secular uptrend in the long run.
Gold follows a long-term cycle of approximately every eight years. It forms a cyclical low in between eight years. Each cyclical bottom is followed by a raging bull market where the secular uptrend lasts for three to four years on average.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
US: Wall St opens higher after Fed leaves interest rates alone