Hopefully coincides with NXM seasonality data from...

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robbo24

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30/06/22

11:24

Post #: 62292441
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Originally posted by lollyologist: ↑

- U.S. investment bank Goldman Sachs has recently raised its year-end 2022. The gold price target is now $2500/oz, signaling a strong 2022 after gold prices ended 2021 down approximately 4%.In the report, the bank noted,that the coming year could bring increased concerns of a US recession, which would lead to higher gold prices.The bankhas long been bullish on gold, and this latest price target increase is yet another sign that GS sees strong upside potential for theyellow metal.Italso believes that the risk of inflation is likely a strong factor to influence gold prices this year. Goldman has said that inflation expectations may become "unhinged", as inflation has become quite persistent, and has proven not to be transitory as previously expected by the Fed.In any scenario where inflation increases rapidly and sustainably, gold will likely outperform other assets. The report said this is due to the fact that gold is a physical asset with no liabilities, and therefore its value cannot be eroded by inflation like other assets such as bonds and equities.Gold has slightly struggled on Wednesday falling around 0.18% to trade at $1816/oz. If the price does close lower today this would be the third straight session of declines. From a technical point of view, there is some support at the psychological $1800/oz area and the consolidation low of $1787.3/oz.

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Hopefully coincides with NXM seasonality data from Shortman.com.au suggesting July is usually a good month, and the months following...

NXM Price at posting: 18.0¢ Sentiment: Buy Disclosure: Held
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Last 5.5¢		Change -0.002(3.51%)		Mkt cap ! $33.20M

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