The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Despite some easing of geopolitical tension after Donald Trump's speech at Davos, a residue remains. Yes, the US president said he would not occupy Greenland, but he also made it clear the Danish island will still fall into a vassal?like dependency on the United States.
Of course, this state of affairs supports demand for gold — not only as a safe haven but as the main financial asset in the world that may emerge after the end of the Ukrainian crisis and the rise of new global governance institutions to replace the UN. That is why the "yellow metal" is in such strong demand and could continue to rise in dollar terms to $5,000 and even beyond.
If the likely future price of gold is relatively clear, what about the outlook for the US dollar? Will its importance really fade in the coming years?
This is not a frivolous question. At present the dollar's share in global trade transactions remains quite high, despite the previous Biden administration's use of it as a financial weapon against Russia amid the Ukrainian crisis. Countries in the Global South and East have begun to settle part of their trade in national currencies, which undermines dollar hegemony and, by extension, US influence. But it's still too early to say the dollar will be sidelined — much will depend on the actions of the current US administration in Washington.
So what can we expect in markets in the near term? I believe gold prices, after a small correction, will resume an uptrend, since geopolitical tension will hang over markets for an extended period. On that wave, spot gold should soon rise toward $5,000 and attempt to hold above that level.
The dollar, despite threats from the EU to sell Treasuries, will be supported in FX markets by the weakness of currencies traded against it and by the attractiveness of dollar?denominated assets, including US stocks amid falling interest in European and other global stocks.
Overall, I continue to expect a recovery in demand for US stocks and for gold. The dollar and cryptocurrencies will remain under pressure.
Daily outlook
GOLD
Spot gold is undergoing a mild downward correction but is holding above support at $4,915.70. Failure to break below this level could lead to a resumption of the rally toward $5,000. A suggested buy level is $4,933.50.
Bitcoin
The flagship cryptocurrency has fallen below $89,568.00 and could continue lower amid weakening demand for crypto due to unclear prospects and pressure from geopolitical tension. After a local bounce, Bitcoin may resume its decline toward $86,255.00. A suggested sell level is $89,250.00.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
