Gold Forecast from Traders Union Hits the Market

livemint.com:

Benzinga this week. The ADP National Employment report came weaker-than-expected in August, sending investors back to safe havens. Experts have used a comprehensive set of metrics during their analysis to ensure that the latest gold forecast from Traders Union comes close to perfect accuracy.

Among the primary tools leveraged are technical analysis, chart analysis, statistical tools, mathematical analysis, and expert opinion. The forecast features a buy or sell scoring system on moving averages and indicators, with the result falling into five categories: Strong Buy, Buy, Neutral, Sell, and Strong Sell. The platform also offers eight different timeframes to cater to all types of traders, starting with a one minute timeframe and ending with a weekly timeframe.

For long-term traders, Traders Union identified the primary factors considered in the price forecasting. Macroeconomic factors, inflation, discount rate changes, and the movement of supply and demand have all been considered upon. Aside from the XAU/USD, TU has also provided its insights on the Euro to INR, a trending currency pair considered as a high-risk, high-reward investment.

Traders Union advises investors to diversify the avenues in which they invest in gold. Among the platforms that topped experts’ choices are gold futures, Contract for Differences (CFDs), Gold-based Exchange-Traded Funds (ETFs), stocks of gold mining companies, gold coins, gold bullions, jewelry, and gold-backed crypto. Gold, considered as one of the most stable investments in the financial markets, holds immense potential amid the global economic downturn.