Takashi Warabiki?鏑木 高明 『週刊 金相場展望』 2023年3月27日号
Takashi Kabuki, President and CEO of Investment Daily, a master of cycle analysis, writes a weekly report on gold market outlook.
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Last week's New York gold price closed up 10.3 dollars from the previous week at 1,983.8, with the high briefly exceeding $2,000 for the first time in nearly a year, reaching $2,014.9. As before, against the backdrop of growing concerns over banking sector turmoil, demand for gold as a safe asset, and rising expectations that the Fed will halt rate hikes, provided the main factors.
However, the gain was smaller compared with the 106.30-dollar rise the previous week, and the hurdle of $2,000 has been tested three times so far, each time knocked back within a week. If this week it can move above $2,000 and stay there, it could push gold to a new stage. If it cannot be maintained on a weekly close, past two occasions suggest a substantial correction.
At this stage, the key may be the U.S. 10-year Treasury yield. This indicator remains on a downtrend, after touching the mid-4% range last October, and last week it marked its lowest rate.
Please see the PDF for the continuation.
【Takashi Kabuki — Profile】
Graduated from Kwansei Gakuin University, Faculty of Economics. In 1995, partnered with the world-renowned U.S. market analyst Raymond Merriman to publish domestic first market cycle and astrology reports. Renowned for cycle and astrology-based market analysis. President and CEO of Investment Daily Corp., President of Investment Daily Publications Co., Ltd., Director of Wakabayashi FX Associates, Member of the Japanese Technical Analysts Association, Editor-in-chief of Investment Daily α.
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