Take a look at who's showing a growing interest in gold. (Hint: The red data set.) pic.twitter.com/cPs6k7j45Z
— Phoenix Capital (@PhoenixCapitalH) December 27, 2023
London's gold price soared to a record high of $2,069.40 per troy ounce, eclipsing the 2020 peak. LBMA CEO Ruth Crowell highlights the value of gold amid economic and geopolitical unrest. Gold strengthens its position as a dependable investment with a 12.7% rise since January and… pic.twitter.com/skKEo1dGTD
— Lavrion Mining (@LavrionMining) December 27, 2023
That was right, triple tops never work.⁰⁰Gold is about to have its highest daily close in history.
An acceleration to the upside is probably the next development to unfold. pic.twitter.com/gAMdUPflOW— Otavio (Tavi) Costa (@TaviCosta) December 27, 2023
Gold: A Surge Toward $2,400 Looks Imminent
Many factors are pushing gold higher. And some charting analysts believe gold will soon reach $2,400. The analysis highlights gold’s consistent performance over the past 50 years, maintaining its value against major government fiat currencies. It’s suggested that the current economic landscape, marked by inflation, recession, geopolitical tensions, and an overvalued stock market, is ripe for gold’s ascendancy. Key factors influencing gold’s buy zones include price fluctuations, Asian market demand, COMEX trading activities, interest rate trends, and investor sentiment.