Gold Price Surge Sparks FOMO vs Trend Debate
Last week's gold price surge has left traders wondering if it's a new trend or just FOMO. Tô Triều, a TradingView analyst, shares his thoughts on the matter.
Triêu's short position from last week survived two sessions before being stopped out for a net loss of $40. However, he didn't let that setback discourage him. Instead, he used it as an opportunity to reassess his strategy and wait for the right moment to enter the market again.
The analyst notes that gold's price rally has been fueled by a weak dollar and quiet guns in the Middle East. However, Berkshire Hathaway's aggressive stock buying spree has sparked concerns about inflation and a potential recession, which could be bad news for gold investors.
Triêu also points out that Gold ETF flows have been on the rise, with nearly $1.58 billion added to the SPDR fund in just one week. While this could indicate a genuine change in investor appetite, it may also be FOMO chasing the price surge.