Gold Reached the Second Target

Gold continues to appreciate

One year ago, on July 2, 2019, we published the article "Gold becomes interesting for investments" about the growth potential of the gold price and a possible promising investment in gold, with 3 profit-taking targets.

Then, on August 19, 2019, we published the next article, when the gold price had reached the first target.

Today we continue this series because the gold quote has tested the second of the 3 targets forecast in 2019.

As you can see, the gold price pulled back a little after reaching target level 1, but not for long. Now, after touching the 1800 $ level for one ounce of gold, some investors may take profit fully or partially, so the price of this financial asset could correct again, for example toward 1680$ or even 1600$ per ounce.

So now would be a good price to lock in part of the investment. In the long term, however, the GOLD quote still has solid potential to reach the third target as well, meaning the area of gold's historical price highs. This "safe-haven asset" will sooner or later cost more than 2000 USD per ounce.

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Risk warning: This article is for information and education only, reflects the situation as of its publication date and does not constitute investment advice, an offer or a recommendation to buy or sell any financial instrument. Trading leveraged instruments (Forex, CFDs) and crypto-assets carries a high risk of losing your capital. Past performance does not guarantee future results. Before investing, assess your objectives and risk tolerance and, if needed, consult a licensed adviser. Details: Disclaimer & Risk Warning.