Gold XAUUSD is no longer a safe haven, the dump continues in 2022
19 Sep 2022
Gold XAUUSD is no longer a safe haven. The dump continues in 2022. During times of market turmoil, investors turn to gold given its perceived safe haven status. It’s a classic statement you will hear about spot Gold, XAUUSD and GLD ETF. As Russian troops invaded Ukraine on 24 February, Gold, the yellow metal, reached $1,974/oz, the highest since September 2020. Wars can affect the price of a commodity or a metal like gold. But price action analysis and supply and demand analysis are key to understanding why Gold is being dumped and not breaking all-time highs.
Gold XAUUSD price today is bearish, and its bias will be bearish for a few more months until a bigger timeframe demand imbalance around $1,300/oz is reached. There will be many trade opportunities on Gold, XAUUSD, GLD ETF, Gold future, and many other gold-related stocks and gold mining companies.
Gold XAUUSD price today. Buy Gold stocks now?
As supply and demand traders, we do not need to pay attention to fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for stocks and ETFs.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
Join our supply and demand online trading academy If you want to learn how to trade stocks using our supply and demand trading strategy.
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