Tajiki Takaki? (Note: The name appears as 鏑木 高明, which transliterates roughly as Takaki Takaaki or Kamitugi Takaaki; without official romaji, a common rendering is Takaki Takaaki) 'Weekly Gold Market Outlook' July 4, 2022 issue
Kobukuro Takaki, the representative director and president of Investment Daily Corp., and a master of cycle analysis, writes a weekly report on gold price outlook.
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Last week, the New York gold market closed at 1,801.5 USD per ounce (near month), down 28.8 USD from the previous week. The week's low was 1,783.4, below the May low of 1,785.0, and approaching the year-to-date low of 1,778.8 set in January. So far it has formed a triple-bottom pattern, but if it breaks down, the 1,700s below 1,700 could come into view, approaching the range of 1,670 that functioned as last year’s triple bottom (from August to August).
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It seems that surprising factors have tied to the downward pressure on gold. However, the 10-year U.S. Treasury yield continued to fall last week, ending the week at 2.889%. See last week’s commentary.
“The U.S. 10-year yield did not have particularly material catalysts compared to the previous week, but notable was that the yield moved down in two steps from the previous week’s high of 3.498% (June 14) to 3.005% by the 23rd, which may have modestly tempered the decline in gold. At this stage, however, the risk of rising yields remains a strong headwind for gold…”
Please see the PDF file for the continuation.
【Takaki Kobuki Profile】
Graduated from Kwansei Gakuin University, Faculty of Economics. In 1995, he partnered with the world-renowned U.S. market analyst Mr. Raymond A. Meridman (Raymond Meriman) and issued domestic first market cycle and astrology reports. He is well-regarded for market analysis utilizing cycles and astrology. Representative Director of Investment Daily Co., Ltd.; Representative Director of Investment Daily Publishing Co., Ltd.; Director of Wakabaya FX Associates Co., Ltd.; Member of the Japan Technical Analysts Association; Editor-in-chief of Investment Daily α.
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