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Jurrien Timmer: Gold falls to $4,500 support as Bitcoin holds $70,000
Gold experienced a significant decline on Friday, dropping to a support level near $4,500, according to Jurrien Timmer. He suggests that this could represent an attractive entry point if the current corrective pattern, described as a series of stair-steps higher, persists.
Meanwhile, Timmer highlights Bitcoin's resilience, as it continued to trade strongly and did not fall below the $70,000 level last week.
Timmer has previously examined the connection between sudden oil price spikes and equity drawdowns, referencing periods such as 1973 and 2022. In a separate analysis, he observed that the S&P 500 experienced a 7.6% pullback accompanied by a 20% drop in its trailing P/E ratio. He also noted declines of around 10% in the MSCI EAFE and EM indices during that time.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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