357
144 shares, 357 points

Gold prices fell slightly on Thursday as US Treasury yields rose, but came with some support from concerns over persistently high inflation. While the price of gold increased by 0.5 percent to $ 1,792 an ounce, December gold futures touched the levels of $ 1,791. The price of gram gold exceeded 550 liras. So, what levels will the gold price see now? Here are the opinions of the experts…

ThinkMarkets analyst: Inflationary pressures pushed gold demand up

Referring to the recent rise of gold, ThinkMarkets analyst Fawad Razaqzada said: “Rising yields have been clearly negative for gold, but there are also rising inflationary pressures as crude oil rises, which has increased demand for the precious metal.” According to experts, gold is stuck between the $1,800 resistance and $1,750 support due to conflicting factors. 10-year bond yields in the US hit the highest level in the last five months.

While the yellow metal is generally regarded as an inflation hedge, reduced stimulus and interest rate increases increase the yield on government bonds, raising the opportunity cost of holding non-yielding bullion. Cryptocoin. com

As we reported , two US Federal Reserve officials said on Wednesday that the central bank should start easing stimulus measures, but it’s too early for rate hikes.

Forecast for the end of 2022 from the series of UBS analisdollar: 1. 600 dollars!

Rising inflation expectations and softening growth prospects could bolster gold prices in the next month or two, but this is not indicative of a “regime change” to stagflation, UBS analystsdollar said in a serial note. The bank estimates precious metal prices at $1,700 by the end of March 2022 and $1,600 by the end of December 2022.

The dollar index, limiting the decline of gold, remained flat after hitting a three-week low at the beginning of the session. On the other hand, OANDA analyst Craig Erlam said, “The short-term trend is still against the dollar, which supports the gold prices. 93-93 in the dollar index. A move below the 50 support should force gold above $1,800,” he said.


Like it? Share with your friends!

357
144 shares, 357 points

What's Your Reaction?

hate hate
490
hate
confused confused
1226
confused
fail fail
858
fail
fun fun
736
fun
geeky geeky
613
geeky
love love
245
love
lol lol
368
lol
omg omg
1226
omg
win win
858
win
Michael Lewis

Emperor

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format