Gold Begins to Form a Base, Signaling a New Recovery Cycle

MacroCommodity
โดย thunhoon.com·GLOBAL·Read original
Summary · why it matters

Global stock markets have corrected about 10% from their peaks due to profit-taking in growth and technology stocks, as well as concerns over long-term bond yields and the Fed's stance. However, Wealth Research believes that the fundamentals have not changed. The U.S. stock market is still supported by strong earnings and guidance, especially after Nvidia confirmed that AI demand is growing better than market expectations. The recovery of the S&P 500 is starting to reflect that buying power is returning. If global stock markets close higher for a second consecutive week, it would signal that the correction may be nearing its end, and markets could enter a recovery phase during September-October. As for gold, prices have corrected about 27% from their peak before forming a base around $4,000. Downside risks are becoming limited, selling through gold ETFs is slowing, and macroeconomic factors are starting to support, as the dollar weakens, the risk of a Fed rate hike decreases, and concerns over U.S. fiscal position remain high. Gold prices have recovered enough to fully offset the decline since May. Silver has potential for upside from industrial demand, especially from AI and data centers, but due to its higher volatility, it is given a lower weight than gold. For the SCBGOLDH fund, it is recommended to accumulate gradually, with $4,000 as a key support level. For KKP GHC-A, it is recommended to diversify additional investments, as it has a high weight in biotech and health innovation stocks, particularly in cancer treatment and mRNA technology.

Impact on stocks 1

Artificial Intelligence▲ · 1 stocks
NVIDIA Corporation
NVDA
▲ PositiveDemandrelevance

Nvidia confirmed AI demand is growing better than market expectations, supporting the market recovery thesis.

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