As a regular reader, you’ll know that the dollar has been up and down of late, but a resurgence this week has pushed it up and created a window to buy for gold investors. The precious metal is trading around the £1,480 ($1,750) mark as the greenback continues to assert its dominance at a 20-year high.
This price point represents an exceptional opportunity to enter the market or add more gold to an investment portfolio to benefit from the yellow metal’s longstanding status as a safe haven in times of economic and political unrest.
It’s worth noting that gold remains well inside the key trading range for a move to the upside. Last month, Northstar & Badch price analysis identified a target of at least £1,983 ($2,400) for 2023. Analysts said that current price levels had factored into their predictions, explaining, “We’re in a sideways trading range for gold at the moment. It’s got a floor of about £1,388 ($1,680), and the top is somewhere just below £1,652 ($2,000). As long as we stay in that sideways trading range, I’ve got no concerns whatsoever.”
Don’t miss this opportunity to buy gold before prices track upward. Buy now