364
151 shares, 364 points

The issue of where the gold price will go next adorns the forecasts of most analysts. At this point, new predictions continue to be made. Here are a few predictions for where the yellow metal is headed next month.

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What is the direction for the gold price?

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According to the Trag Economics analystsdollar series, the gold price will fall between $1,400 and $1,700 in the next 12 months. Gold price traded at $1,780 on Monday. This level marks a range not far from the last 7-week low of $1,760. Here, the $1,770 level is pointed out specifically for the yellow metal price. A contraction in the 200 and 50-day movingollary averages is considered as a warning against the latest gold price movement.

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Now, analystsdollarser say that if this trend continues, a technical chart pattern known as “Death Cross” will emerge if the 200-days average falls below the 50-days average.

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Yellow metal finds support at $1,760

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Last week, gold prices closed on a high nodollar with increasing open interest and volume. By contrast, the yellow metal is still battling for the critical barrier of $1,800 an ounce for the foreseeable future. On the negative side, the $1,760 area continues to act as a hub of activity. The projection outlined below by Trag Economics analisdollarserin shows the possibility that the yellow metal price will enter a downward trend over the next 12 months due to the Federal Reserve’s activedollar series.

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As we mentioned , the yellow metal functions as a hedge against the inaction of the central bank when it comes to managing inflationary pressures. Therefore, last week, the yellow metal price experienced significant declines following the Fed’s statements last week. Data provided on Friday confirms that future inflation is possible. However, the lack of an upside surprise also helps gold gain some support. The gram price of the yellow metal is trading at 499 Dollars.

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