As gold prices continue their volatile journey, analysts suggest that the ‘sell on rise’ strategy may be the most profitable way forward. The global political and economic atmosphere has had a major impact on gold prices. The immediate support seems to be at around $1700 per ounce as per recent indicators. The long term picture still remains cloudy, as major central banks worldwide are showing signs of tightening their monetary policy. This indirectly affects the demand for gold as it is seen as a ‘safe haven’ during uncertain times. Therefore, sellers who adopt the ‘sell on rise’ strategy could potentially reap the benefits as the price is expected to fall. However, this should not be taken as financial advice and investors must do their own research before committing any investment action. The gold market can be very volatile and unpredictable, so caution must always be exercised. Read More
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