Xauusd analysis on dated 04-08-2022

22
60pips.com

 

Gold is often seen as a safe investment, and its value has been steadily increasing for the past few years. Despite this, gold is not without risk. Here’s an analysis of the pros and cons of investing in gold.

 

The main pro for investing in gold is that it’s a very stable investment. The price of gold does not tend to fluctuate as much as other commodities or stocks, making it a safer option for those who don’t want to take on too much risk.

 

Gold also has a low correlation with other assets, meaning that its value doesn’t usually move in tandem with other investments. This makes it an attractive option for portfolio diversification.

 

However, there are some risks associated with investing in gold. One is that the price can be quite volatile – it can go up or down quite significantly in short periods of time.

 

Another downside is that there’s no guaranteed return – unlike some other types of investments, you may not make any money at all if you invest in gold bullion or coins . Finally, because most people see gold as a safe investment, the price tends to be higher than many other commodities.

 

There’s always been strong demand for physical gold from countries like China and India, where it is seen as a store of value. Following direction should be considered when you open a new trade-

 

  • Buying pressure from 1760.00 resulted in prices rejecting the dip.
  • We look for gains to be extended today.
  • A weaker opening is expected to challenge bullish resolve.
  • Support is located at 1760.00 and should stem dips to this area.
  • We look to buy dips

 

Recommendations: Buy/Buy limit @ 1765          Target: 1785/1810

N.B : Valid for one day/24hours

 

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