I'm not trading gold, but it seems pretty tough for gold to hit its peak in the mid-term. Gold remains a store of value; besides its material worth, it carries a lot of other values (almost like a mandatory gift in weddings, dowries...) in Eastern cultures. So in the long run, the price will continue to gradually rise.
However, if we look at it from a speculative angle, interest rates on bonds and savings accounts are currently more attractive. Real estate in Vietnam is also experiencing a significant drop in demand, weak liquidity, and a lot of cash is tied up in it, which lowers the potential for strong gold accumulation. It's not like there's extra cash lying around to go buy gold.
I still hold the view as pinned in the article: Gold will only trend down and be in a sideways range for the next 8-10 years, and no new peaks are in sight.
$XAU
However, if we look at it from a speculative angle, interest rates on bonds and savings accounts are currently more attractive. Real estate in Vietnam is also experiencing a significant drop in demand, weak liquidity, and a lot of cash is tied up in it, which lowers the potential for strong gold accumulation. It's not like there's extra cash lying around to go buy gold.
I still hold the view as pinned in the article: Gold will only trend down and be in a sideways range for the next 8-10 years, and no new peaks are in sight.
$XAU