Gold rebounds above the key trendline; can the bulls regain control?

Gold prices have risen for four consecutive days, regaining momentum and breaking through key moving averages! The weakening of the US dollar, sustained central bank gold purchases, and easing expectations of interest rate hikes have collectively created a favorable environment for gold's rebound. However, resistance at the $4,800 level persists, with inflation and concerns over interest rate hikes still looming. Amidst this pivotal battle between bulls and bears, can this "gold rush" continue?

wallstreetcnMay 9 15:28

This Gold-timing Indicator Just Hit a Bottom - and History Says a Strong Rally Is Next

MarketWatch03:03

Bank of America: U.S. stocks and gold may record double-digit gains for the fourth consecutive year in 2023.

① Strategists at Bank of America predict that the U.S. stock market and gold market are poised to achieve double-digit growth for the fourth consecutive year; ② The bank forecasts an annualized increase of 20% for the S&P 500 Index this year, with gold expected to rise by 30%; ③ The bank also notes that small-cap stocks, emerging markets, and commodities are at a long-term bullish turning point, with the materials sector potentially becoming the next investment opportunity.

cls.cnMay 9 21:09

Gold Has Climbed Back Above a Key Trend Line. Are More Gains on the Way?

MarketWatchMay 9 05:44

Why the S&P 500 Is Heading to 8000

Barron'sMay 9 04:07

BofA's Hartnett: The strength of the U.S. stock market is historically rare, and gold is expected to rise by 30% this year.

The Bank of America's Hartnett team noted that both the U.S. stock market and gold are on track for a rare fourth consecutive year of double-digit gains, with the S&P 500 Index potentially achieving an annualized increase of 20% and gold reaching 30%. Recently, the Nasdaq and S&P 500 have hit new highs, with gold nearing $5,600 per ounce this year, just short of its target gain of 30%, or $5,631.6 per ounce. The team believes that market breadth is improving, and small-cap stocks, emerging markets, and commodities have reached "a bullish long-term inflection point."

wallstreetcnMay 9 00:14