◽️ FED raised the interest rate 75bp on Wednesday, the highest level in 28 years, But the gold market has shown good resistance to this sharp hike in interest rates
◽️ Rising fears of a recession have led to a sharp drop in the stock market, cryptocurrency, and ounce support in the 1800s.
◽️ Investors who are selling their stock, and their Cryptocurrency assets, will definitely invest some of their capital in gold.
◽️ But remember this point, Big Investors and Business owners have to sell their gold and cryptos to provide the margins they need and protect their companies.
🔻 So, because of recession risk, we may have a short-term downside on gold, But in long term, what we predicted, gold is in good support
🔻 As long as the price of gold remains between 1878 and 1787, it is technically considered a neutral move.
🔻 Gold will reach $2,000 when the Federal Reserve no longer puts pressure on the economy, and the government increases spending again.