A “Secret Climb” Famous Name Shared His Gold and Bitcoin Forecast!

Pepperstone head of research Chris Weston shares his assessments and prospects for gold, silver and Bitcoin.
 A “Secret Climb” Famous Name Shared His Gold and Bitcoin Forecast!
READING NOW A “Secret Climb” Famous Name Shared His Gold and Bitcoin Forecast!

Pepperstone says precious metals like gold and crypto markets are seeing a ‘hidden climb’. But does this mean that investors are stepping up their hedge game? We have prepared Pepperstone research head Chris Weston’s gold, silver and Bitcoin evaluations and expectations for Kriptokoin.com readers.

“I definitely see gold as a better portfolio hedge”

“There’s been a sneaky climb in crypto and precious metals lately, but they’re on the radar,” Chris Weston said. states that they control the extra airtime. Markets seem worried about the US inflation data scheduled for release today and what it will mean for the Fed’s March meeting. Chris Weston comments:

I would refrain from saying that both markets were bought as an inflation hedge as there is little correlation between crypto/gold and expected inflation. I definitely see gold as better portfolio protection against a central bank spinning in their stance and a potential march.

Chris Weston, when rate hike pricing is so rich across the entire developed market spectrum and yield curves flatten, perhaps it makes sense to buy some insurance against repricing across a broad portfolio.

In both cases, gold and silver find buyers despite high US real interest rates and a modestly strengthened USD.

Gold is looking to test its resistance at $1,847, according to Chris Weston

According to the CME Fed Monitoring Tool, market participants expected a 50 basis point rate hike in March to reach 26.9%. luckily they are priced. These expectations will gain more popularity if inflation comes in hotter than expected. Currently, market consensus forecasts are that annual inflation in the US will rise to 7.3% in January. Chris Weston says he wanted to test the resistance of gold at $1,847 and silver found support at $22.40:

Silver found a lot of buying support at $22.40 $22.00 and the price consolidated later before buyers step up their game. it happened. We broke past the 38.2% Fibos of the late January drop and now the near-term target is $23.60. The yellow metal is looking to see the downtrend resistance at $1,847 once again, a level that seems crucial for the gold market.

Chris Weston: Bitcoin is an acceleration tool for me

Pepperstone’s head of research also said that Bitcoin’s trading pattern looks solid as it tries to break out above the $44,000 mark. adds.

I don’t care about the shape of ETH, but Bitcoin looks interesting here with its price breaking the 44k mark and the supply zone seen throughout January. He rallyed for five days and had his best run since September. Bitcoin is an acceleration tool for me, I just go long when it’s going up and short when it’s down. Simple but crypto serves me well when it is a pure flow type tool that hitchhikes and aligns with the collective thoughts of the market.

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