Gold Price Outlook – Gold Continues to See Supporters After Falling Previous Day

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But in addition, we must also keep in mind that there are many geopolitical concerns. I think a lot of the sales from Monday’s session is probably closely tied to the fact that Israel and Lebanon have agreed to a bit of a ceasefire, which has probably taken away some of the geopolitical premium. However, let’s not forget that there is a country called Russia that has quite a large military that is in a hot war with Ukraine, which is supported by NATO.

So there are still many things to think about. And I believe gold will continue to be a big part of quite a few different portfolios. I think short-term dips still offer buying opportunities. And the volume is quite stable. So that’s actually a good thing. It means we can probably maintain this momentum in the longer term. It is known that Indonesia, India, Russia and China are all currently buying gold through their central banks, so that obviously has an impact as well. Right now, it’s a buy on the dip market.

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