353
140 shares, 353 points

Gold fiadollaryel slid on Monday, hitting almost two-week lows after rising stock and Treasury yields. Today, the yellow metal is flat. We have compiled leading analystsdollarserin market comments and gold forecasts for the readers of Cryptokoin.com .

Chintan Karnani expects ‘cautious optimism in gold’

analystdollarser in Zaner said in a Monday news release, “The gold market is improving from gold’s 3.6% year-on-year decline in 2021. He struggles with the negative emotions caused by it.” Unfortunately for the bull camp, US Treasury yields remain high and silver and gold could threaten long-terms as markets await this Friday’s nonfarm payroll (NFP) report. Prospects for this week’s NFP report project 400,000 job gains, almost double the shockingly negative data from November. Chintan Karnani, research director of

Insignia Consultants, said in a statement that February futures gold could not trade above the 400-day average of $1,826.10, causing the price to drop. The director states that the very low death and hospitalization rate due to the Omicron variant will reduce the safe-haven demand for gold.

Chintan Karnani states that February gold should be traded above $1,806.40, which is the 200-day trading average on a daily closing basis, and reminds that if it does not, it may result in more sales and a re-increase in short positions. For now, the analyst expects “underly cautious optimism”.

“Equity index strength indicates bearish trend for gold”

Analisdollarser says the decline in yellow metal comes with the start of a seasonally strong buying period for precious metals. Marios Hadjikyriacos, senior investment analyst at brokerage firm XM, highlighted in a note on Monday:

The December-January period has historically been very strong for bullion, which has risen on the 8th of the last ten January.

Marios Hadjikyriacos pointed out that the markets in the UK and Canada remained closed on Monday and therefore trading volumes are expected to be ‘lower than normal’.

Metal markets were open on New Year’s Eve on Friday, but some international markets remain closed for the New Year’s holiday. A rise in debt rates makes unproductive precious metals less attractive than coupon-offering debt, while a stronger dollar makes dollar fiasco bullion more expensive for offshore buyers. In a daily note, senior analyst Jim Wyckoff comments:

Strength in US stock indexes indicates low trader and investor risk aversion in the market at the moment and a bearish trend for safe-haven metals. According to

Jim Wyckoff, while there is little risk aversion in the market right now, some market analysts say that 2022 is for stock markets as rising inflation, central banks reining in easy money policies so far, and the world still struggling with Europe. believes it will be a more difficult year.


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