Analyst Michael van also poppethat the rapid decline in gold price can fundamentally shake the perception of investor. claimed. On Monday, June 2, ounce of gold rising to 3 thousand 381 dollars, decreased to 3 thousand 309 dollars during the weekly closing on June 6, lost 2.21 percent in four days and strengthened the short -term signals of 1.92 percent of the two days. According to Poppe, if the precious metal does not take back the threshold of 3 thousand 365 dollars in a short time, it may be the scene of an additional decline between 4-10 percent in the coming weeks. Analyst gold marketIn the event that the weakness in the weakness continues, he stressed that the capital could shift to crypto currencies in the “Risk-on” category. The total crypto currency market value on the weekend increased from 1..26 trillion to 3.26 trillion and increased by 1.59 percent. This mobility indicates that some investors have already changed positions.
Weekly hard retreat signal on the gold chart
On the first trading day of the past week goldIn the increased geopolitical uncertainty, the spot price increased rapidly. However, the power of buyers has weakened from Tuesday. When it comes to Friday, the price of the critical 3 thousand 309 dollars in the graph in the graph triggered the formation of downward short -term channels. The technical appearance shows that 3 thousand 365 dollars stand out as resistance and that sales pressure can deepen as long as it is below this level.
Poppe limited its possible decline target to the 4-10 percent range. In this scenario ounce of gold It can be withdrawn to 3 thousand 180 dollars. On the contrary, if the price exceeds $ 3 thousand 365, the summit of the whole time can be tested again, but according to the analyst, strong volume approval is required.
New market cycle foresight from Van de Poppe
Poppe argues that the weakness underneath can create breaks in investor psychology. Gold is seen as a symbol of “risk-offs” preference in global portfolios. Therefore, weakening on this side safe port His narrative is filed. According to the analyst, the capital in the quest may turn to crypto currencies that offer higher return potential.
Crypto Money Market He has already shown his resistance. 4 percent withdrawal in the middle of last week was compensated for the recovery of 2.49 percent on Friday. The total market value has continued to increase during the weekend, and this may be the first signal that this gold -source capital return has begun.
The impact of FED leadership rumors on possible liquidity is discussed.
Another important title spoken in the markets is US central bank (Fed) probability of changes in management. The President of the White House Jerome Powellformer governor instead Kevin WarshSpeculation about thinking of the monetary policy has increased its uncertainty. This uncertainty can support the risk appetite for crypto currencies while creating pressure on gold.
Poppe said that if the President of the FED Chairman changed, there may be an unexpected revision on the interest pathway, which could weaken the demand for gold more. Volatility in such an environment but promising high return crypto currencyLAR may become preference for investors who want to make a portfolio diversification.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
