In my opinion, this correction in gold is logical after its impressive rise in recent months. The break below the 200-day moving average is a negative technical signal that may encourage some investors to take short-term profits.

However, I do not think this challenges the long-term potential of gold. Even if expectations of higher Fed rates weigh on the yellow metal, several factors remain favorable: ongoing central bank purchases, persistent geopolitical tensions, and concerns about budget deficits in many countries.

The revision of the price target by Goldman Sachs from $5,400 to $4,900 mainly shows an adjustment of expectations, not a radical change in trend. A target of $4,900 is still above the current level, which suggests that the bank maintains a generally positive outlook on gold.

My personal opinion:

Short term: caution, downward pressure may continue.

Medium term: likely consolidation phase.

Long term: gold retains its role as a safe haven and could regain an upward momentum if the economy slows down or if the Fed begins to ease its monetary policy.

#MarchésFinanciers #GoldmanSachs #Inflation #ValeurRefuge #TechnicalAnalysis