$XAU/USD(XAUUSD.FOREX)$ $SPDR Gold ETF(GLD)$ Gold fell sharply from it's all time high, found support and quickly rebounded, it show there are many bargain hunters which try to snap up at the pull back. Jewelry shop & bullion shop see a influx of customer. Gold needs to stay above $5000 to keep the bull momentum intact. As long as trump continue to be president then gold will continue to perform well. It will hit $10000 before trump terms end. What do you think?
Gold Back Above $5,000: Rotation to Copper Next?
Gold has reclaimed the $5,000/oz level after a sharp pullback. According to JPMorgan strategist Jason Hunter, the recent volatility represents a healthy consolidation within a long-term uptrend, rather than a trend reversal.
JPMorgan expects copper to rebound earlier than gold in Q2, as industrial demand stabilizes and inventory dynamics improve.
Is this the moment to rotate from gold into copper-led cyclicals?
Will gold reclaim $5400?
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