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Yesterday, on May 20, gold (XAUUSD) reached a new all-time high of $2450 per ounce! At its peak, the growth was an impressive 17.5% since the beginning of the year!

Some analysts had previously predicted a rise up to $3500 per troy ounce, and current prices are confirming these forecasts.




Bitcoin (BTCUSD) also did not lag behind. The leading cryptocurrency gained 8% yesterday, reaching $72,000. Since the beginning of the year, Bitcoin has grown by 73%!

FreshForex analysts are confident that gold and Bitcoin form a powerful duo for protecting and growing capital. Here's why:
- Inflation Hedge: Gold and Bitcoin are often viewed as hedges against inflation. Both assets have a limited supply (finite amount of gold on Earth, finite number of Bitcoin), which increases their value amid rising money supply.
- Portfolio Diversification: Investors and traders, fearing inflation, prefer gold and Bitcoin as stable assets that can better preserve their value over time.
- Capital Inflow: Wealthy investors and speculators have always bought precious metals to preserve capital. The launch of Bitcoin funds on the exchange attracts new large investors, supporting high prices.
- Geopolitical Risks: Conflicts in Europe and the Middle East increase the demand for stable and safe assets.

We’re tired of repeating it, but our analysts have consistently predicted the current rise in both gold and Bitcoin, and they are now confident that the growth is not yet over.

Ethereum (ETHUSD) is once again at the peak of interest in the crypto community, and it's no coincidence. Here are some key events:

1. ETF Breakthrough: The U.S. Securities and Exchange Commission (SEC) has finally approved 8 applications to launch Ethereum ETFs from giants like BlackRock and Fidelity. This SEC decision is primarily political and opens the doors to new investments from the masses. It is expected that the Ethereum ETF will attract between $5 and $8 billion.

2. Successful Network Upgrade: The recent Ethereum network upgrade, known as Dencun, brought significant improvements in scalability and security. These changes, including new smart contract capabilities, will make the Ethereum network even more attractive to developers and users, driving further growth.

3. Analysts’ Forecasts Fuel Interest: Analysts agree that the approval of the ETF and the successful network upgrade can significantly impact the value of the second-largest cryptocurrency and may even trigger a new "altcoin season," similar to how Bitcoin ETF approval previously led to substantial price increases across various crypto pairs.

All these factors create optimistic prospects for the cryptocurrency as a whole, attracting the attention of investors and developers. So, if you haven't tried it yet, now is the perfect time to consider investing in the world of cryptocurrencies.

Can you find anyone in the 21st century who hasn't heard of NVIDIA, the leader in high-performance computing solutions for the most complex tasks? The corporation's developments have become widespread in the video game industry, professional visualization, crypto mining, and autonomous vehicles.

The latest peak of #NVIDIA shares on the NASDAQ was nearly $1150, and since the beginning of the year, the price has already increased by 130%!


But the extravaganza of generosity for investors doesn’t stop there. Recently, the tech giant announced a 10-to-1 stock split, scheduled for June 10.

Remember, after the previous stock split on July 20, 2021, #NVIDIA's price rose almost 85% without any pullbacks. And now Wall Street analysts are predicting continued growth, driven by several factors:

• Strong financial health: In the first quarter of 2024, Nvidia reported a 262% increase in revenue ($26 billion) compared to the same period last year, exceeding analysts' expectations. The announcement also mentioned a 150% increase in dividends, further signaling optimistic growth prospects.
  
• Diversification of product lines: The corporation continues to expand its product range, including processors for gaming systems, professional video, and autonomous vehicles. This helps minimize risks and dependence on specific economic sectors, as well as attract new customers.
  
• Increasing demand in AI and cloud computing: Nvidia is driven to enhance existing technologies and develop new chip designs, leading to revenue growth and higher stock value.
  
• Continuous investment in new developments: The company consistently invests significant funds in researching new technologies, allowing Nvidia to stay ahead of competitors and create products that meet the rapidly changing market demands.
  
• After the 10-to-1 stock split, the price will become much more accessible, attracting new private investors and additional investments.
  

Thus, based on the company's strong financial foundation, innovation leadership, and rapid growth in product demand, FreshForex analysts are confident that NVIDIA shares will continue to rise, and the 230% growth in 2023 is far from the limit.

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This week, the financial news market is buzzing with mixed events. Oil prices continue to fall, while American stocks are delighting investors with unexpected rises.
FreshForex traders have quickly capitalized on these events to make profits. Let's take a closer look at what’s happening and why.

Black gold is getting cheaper

At the beginning of this week, oil prices fell again, causing concern among investors. Market volatility is increasing due to fears about future demand and a possible easing of production restrictions by OPEC+ by the end of the year. Brent crude oil fell below $77 per barrel on Tuesday!

Oil prices declined following decisions made by OPEC+ at their June 2 meeting. The organization announced a gradual lifting of oil production restrictions, affecting market sentiment. Moreover, disappointing figures from the US manufacturing PMI (ISM) also played a role: at the end of May, the index dropped below 50 points to 48.7, indicating a decline in the sector. The rise in borrowing costs, limited investments, and increased raw material costs are challenging American industry.
Experts are divided: Goldman Sachs sees potentially negative consequences for the market from OPEC+'s decision, while UBS and RBC analysts believe that the cartel will manage the market flexibly, gradually easing restrictions.

Rises in the US stock market

Meanwhile, optimism reigns in the US stock market. The price of tech giant Apple (#Apple) exceeded a 5-month high, surprising Wall Street once again. The company’s profits surpassed expectations, causing a buzz among investors that continues to this day.
Microsoft (#Microsoft) shares continue to rise. Microsoft is developing and training its own AI model, MAI-1, which could compete with models from Google, Anthropic, and even OpenAI, according to a Yahoo report. The company's first-quarter revenues were supported by high demand for AI products.

Micron (#Micron) shares are soaring. The company is poised to become one of the largest beneficiaries of AI demand in the chip industry. Micron announced strong quarterly results and an optimistic earnings forecast for the current quarter.

Once again, GameStop Corp (#GameStop) became sensational news. As we mentioned earlier, the company’s shares soared following new content from popular YouTube streamer Keith Gill, known as Roaring Kitty. In a recent Reddit post, Gill shared a screenshot of his investment portfolio, which included a significant holding of GameStop shares and call options. This information sparked another explosive interest in the stock, doubling its price to $47 on the New York Stock Exchange (NYSE) on Monday, June 3. We already mentioned GameStop in May, so for our regular readers and active traders, the latest surge was no surprise.

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Specialists at Goldman Sachs Group have revised their year-end forecast for the S&P 500 index (#SP500) upward to 5,600 points. This adjustment is based on the assumption that negative earnings will be below average and that the price-to-earnings ratio is now considered fair.

Yesterday, the S&P 500 reached a new all-time high of 5,488 points! The index has already grown by 15.8% since the beginning of the year, and the upward trend is expected to continue.

We previously discussed the rise of the S&P 500 in April. Our traders closely monitor the market and engage in active trading, so this new surge was not a surprise to them.


The growth of leading American companies strengthens the resilience of the U.S. economy

The stock price of Applied Materials (#AppliedMat) has increased by 56% since the beginning of the year. Applied Materials is an American corporation that provides equipment, services, and software for the production of semiconductor chips used in electronics, flat panel displays, smartphones, televisions, and solar products. The rising demand for electronic chips fuels investor interest in this company.

Motorola Solutions (#Motorola), the successor of one of the oldest U.S. corporations, has transformed into a leading manufacturer of specialized communication devices and holds a monopoly in certain niches. The company's stock has grown by 22.6% since the start of the year. Motorola Solutions focuses on the highly profitable public sector procurement, leading to steady revenue growth for MSI.

Procter & Gamble (#PG) is a global leader in the consumer goods market, well-established in the U.S. and abroad. The stock of this defensive goods group (covering beauty and grooming, healthcare, fabric and home care, and baby, feminine, and family care products) has been growing steadily and reliably. Over the year, their value has increased by 15.6%.

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Oil prices have shown steady growth from $76 to $85 per barrel of Brent crude (#BRENT) since the beginning of June. This rise is driven by seasonal factors: high consumer activity during the summer driving season, increased demand from the transportation sector, and higher electricity consumption for air conditioning.


However, a more significant development in the oil market is the expiration of the 50-year-old Security Agreement between Saudi Arabia and the USA, signed in 1974, and Riyadh's refusal to renew it.

The agreement facilitated economic cooperation and military needs between the two nations, stabilizing the situation after the crises of the 1970s. The US benefited from oil at favorable prices, while Saudi Arabia gained a technological ally and wealth. Crucially, this agreement mandated that Saudi Arabia sell its oil exclusively for dollars, a restriction that no longer applies. This system greatly strengthened the dollar's position as the dominant global reserve currency by creating worldwide demand for dollars directly tied to oil transactions. Many have called this the "deal of the century."

Abandoning the petrodollar system could, in the long run, weaken the dollar's influence and impact US financial markets, reducing Washington's ability to accumulate national debt and profit from exports. Countries like China, Russia, Iran, and India are increasingly settling trades in their national currencies. By 2023, already 20% of global oil was being purchased without using the dollar. Now, Saudi Arabia can sell oil for any currencies or assets, including the yuan, gold, and even cryptocurrencies, which could significantly boost the value of these assets over time.

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For the fourth day, the news has been buzzing about the launch of Spot Ethereum ETFs (Exchange-Traded Funds). Everyone expected a huge influx of capital and that the price would skyrocket! On the first day alone, ETH-ETF surpassed $200 million!

But we didn't rush with the news, as in the meantime, the ETHUSD price dropped by 10%...



What happened?
Ethereum failed to hold above the critical support level of $3250, leading to a drop below $3150. This forced traders to reassess their strategies, considering the high volatility of the cryptocurrency. The simultaneous drop in Bitcoin and other cryptocurrencies further exacerbated investor uncertainty, prompting many traders to close their positions out of fear.

What factors are the loud media not considering?

• Sell-offs by major holders: According to Farside Investors, on the first day of trading after the launch of the Ethereum-based ETF, the Grayscale Ethereum Trust (ETHE) lost $484.1 million. Farside Investors did not provide data on the iShares Ethereum Trust ETF (ETHA) created by Blackrock. However, according to the information published on the derivative's website, ETHA's capitalization level fell by $25,558 due to a 0.23% drop in share price.
  
• Political uncertainty: For instance, the nominee for chairman of the Financial Services Commission (FSC) of South Korea, Kim Byung Hwan, urged the government to be cautious with the launch of spot ETFs linked to cryptocurrencies.
  
• Everyone who wanted to buy has already bought: Some experts believe that since the 180-degree shift in the SEC's stance, all investors who wanted to buy Ethereum have already done so and hold ETH as an investment, primarily on the spot market.
  

However, FreshForex analysts believe that in the long run, Ethereum will inevitably rise. Once investors see real reasons for new purchases, not just the hype around the ETF launch, the influx of funds will stabilize and the price will start to increase. Currently, the price has fallen significantly close to the important psychological level of $3000, but a strong rebound has timely appeared. If you want to profit from future growth, buying at a lower price is a great entry point!