“Lebanon Debate” – Hassan Ajami
In the midst of the sharp fluctuations hitting the gold markets globally, and the rapid declines that accompanied them after recording historical peaks, investors are increasingly concerned about the nature of what is happening. Many questions are being asked in the markets: an actual collapse or a natural correction within an upward path that has not yet lost its momentum?
In this context, one of the most prominent gold traders in Lebanon, Bashir Hassoun, confirms that the market has actually entered wave C, which is the most sensitive and decisive stage in any corrective cycle, where nerves are tested and decisions are made away from quick emotions.
In an interview with Lebanon Debate, Hassoun explains that gold had reached record levels of approximately $5,600 per ounce, before it suffered a strong and rapid decline that brought it to around $4,400. This decline, according to him, does not reflect a weakness in the yellow metal or a decline in its role as a safe haven, but rather is a direct result of the amplification of speculation in the market, which imposed a harsh but natural liquidation process to restore balance after an unhealthy stage of crowding.
Regarding the rebound that followed this decline, Hassoun points out that the rise during which the price touched levels close to $4,950 per ounce formed Wave B, which is a rebound phase whose mission has ended, after which the market enters the heart of Wave C, where the true conviction in gold is retested away from the hype and rapid speculation.
Hassoun describes this wave as both the most dangerous and the most important, as the final destination of the market is decided during it. In it, lower levels may be retested, a clear price bottom may be established, or gold may enter into a stressful sideways movement that drains the market before any new launch.
He confirms that wave C is usually less noisy than wave A, and more honest than wave B, and it is in it that the real difference between a long-term investor and a speculator looking for a quick profit appears.
Hence, Hassoun points out that historical experience shows that the best buying opportunities often appear during wave C, neither at peaks nor during imaginary impulsive waves, because this stage is based on conviction, not emotion.
As for the anxiety prevailing in the markets, Hassoun believes that the real danger does not affect gold itself, but rather affects those who do not have a clear plan. Those who deal with gold as a long-term protection and savings tool are not facing a threat, but rather facing a natural stage within any upward path, while the biggest affected remain the speculators who are not protected by thoughtful risk management.
He stresses that gold does not collapse suddenly, but rather tests patience and stability before continuing its trend, considering that what is happening today does not mean the end of the upward path, nor does it constitute an announcement of a certain rise, but rather it is simply a correction and testing phase that is not understood by those who are led by fear or greed.
Hassoun concludes with a decisive warning that gold is not bought at peaks, but rather at declines, and is only sold when necessary, pointing out that the stability of the price for an entire day above the level of $5,200 per ounce is enough to completely nullify this scenario. In a market that is not merciful to those who hesitate, the most important rule remains one: patience is the basis of decision, and accurate information is real capital.
