Kamiki Takaaki『Weekly Gold Market Outlook』April 10, 2023 Issue

The president and representative director of Investment Daily Co., Ltd., a renowned cycle analysis expert,

Katsunori Kabutomaki writes the weekly report on gold price outlook.

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Last week's high for New York gold was 2,049.2 dollars, approaching the former all-time high of 2,078.8 dollars recorded on March 6, 2022, and the then all-time high of 2,078.0 dollars on August 2, 2020. Whether it can surpass these two upcoming all-time highs will be a major theme. Currently it still shows a double-top appearance, but if this week's candlestick closes as a bearish line, that possibility will become more likely. In both of the past two all-time highs, the following week also closed lower. I will repeat the points discussed over these two weeks.

“...However, compared with last week's high of 106.30 dollars, the rise has been modest, and the 2,000-dollar level has been tested three times so far, with each test subsequently knocked down within a week. This week, if it can again rise to 2,000 dollars and hold, it could push gold to a new stage. If it cannot be sustained on a weekly close, it would suggest a substantial correction similar to the past two times.”

Please see the PDF file for more details.

【Katsunori Kabutomaki — Profile】

Graduated from Kansai Gakuin University, Faculty of Economics. In 1995, partnered with the world-renowned U.S. market analyst Raymond Meierman to issue the domestic first market cycle and astrology report. He is well-regarded for cycle and astrology-based market analysis. Representative Director of Investment Daily Co., Ltd.; Representative Director of Investment Daily Publishing Co., Ltd.; Director of Wakabayashi FX Associates, Ltd.; Member of the Japan Technical Analysts Association; Editor-in-Chief of Investment Daily Alpha.

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