It would seem the time to invest in gold, the yellow metal in recent times had a massive increase in prices which has led to a new high, the highest compared to March last year. Currently, the gold share $ 1,787 an ounce, an increase in the last three months of 12%.
The gold rush, however, does not seem to stop, indeed, according to many banks the precious metal is expected to reach new heights by the end of October.
According to Deutsche Bank gold by the end of October will rise to $ 1,900 an ounce, UBS is to raise the previous estimates 1,600 to $ 1,850; Aberdeen Asset Management, however, believes that the price, within twelve months, will exceed $ 2000.
In short, a pretty rosy prospect for all those who believe in the yellow metal, but be careful, a detailed technical analysis says that gold should have a slight correction in the short term and touch the 1720-1700 U.S. dollars and then resume his unstoppable race to the summit which, according to many sources, profits can be very interesting.
Moreover, it is well known that, in times of crisis like the one we are experiencing, investors tend to protect their savings entrusting them to the safe haven, gold, over the years, has always behaved very well and has always protected from devaluation in periods of crisis.
As you can see from the picture, gold, after a period in which technical analysis is defined as a triangle, took off exactly as expected after that stage, prices are stabilizing and will probably have to wait a little correction. For the moment, our advice is to observe the market and prepare to enter as soon as the correction phase is completed.