Gareth Soloway: Next Buying Level for Gold, Oil Outlook After Price Surge
Investing News Network, Released on 3/17/22
Gold is still poised for a big move after last week's jump and subsequent pullback, but according to Gareth Soloway of InTheMoneyStocks.com, it won't go straight up.
"I'm kind of expecting a pullback to maybe US$1,850 (per ounce) or so, and then right around there I think is the big buy for the next big move up," he said.
Soloway also spoke about oil, saying that with a global slowdown in the cards he's not optimistic in the longer term and sees the fuel falling to the US$75 per barrel level.
0:00 - Intro0:21 - Market reaction to Fed's interest rate hike2:47 - Fed needs balance, recession concerns valid5:09 - Buying level for gold before next big move7:06 - Russia/Ukraine and trading during conflict10:36 - Gareth still looking for large bitcoin drop13:17 - Oil going down to US$75 longer term17:22 - Keep exercising caution in equities market20:37 - Outro
Gareth Soloway is a professional trader with over 20 years of experience and the President, CEO, & Chief Market Strategist for InTheMoneyStocks.
Gareth Soloway: Next Buying Level for Gold, Oil Outlook After Price Surge added by Herman James on 03/17/2022View all posts by Herman James ?+'