Check out the trading idea of the week below, by your friendly, neighbourhood market analyst!
Trading Idea of the Week
ASX:EVN - Evolution Mining Ltd
- Key levels on the chart - consider taking trades from key support/resistance zones.
- UBS updates its near-term gold price forecast with a more bullish view
- The Fed is forecast to cut interest rates from 5.0% to 3.25% from mid-2023
- Key gold picks include Northern Star, SSR Mining, Gold Road Resources, De Grey & Evolution Mining.
- "Investors have had mixed feelings towards gold in 2022, in part due to the crosscurrents of rising real rates and a strong dollar (bearish gold) versus high inflation and elevated macro uncertainty (bullish gold)," UBS analysts said in a note last Friday
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