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Analisdollarser told Kitco News that important gold fiadollars have made yellow predictions. Analisdollarser said gold could see a significant rise above $1,800 per ONS next week after the release of the Federal Reserve’s June monetary policy meeting minutes. Let’s examine the predictions together…

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Bart Melek: This event could trigger a massive rally in gold

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One of the biggest events to watch next week will be the Federal Reserve’s monetary policy meeting minutes. The meeting, which took place in mid-June, triggered a significant drop in gold. “Markets are expecting a hawkish slope, and anything that says there isn’t a hawkish slope is a little less than what people are paying for,” Bart Melek, head of global strategy at TD Securities, told Kitco News. In this case, you can get a big rally in gold. ” said.

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Market participants will closely monitor whether the hawkish comments made by some FED members in recent weeks coincide with the nodollarsars in the meeting minutes. “The FOMC meeting minutes are interesting if they contradict anything we’ve heard so far from the Fed, especially from some of the more hawkish Fed members,” said Everett Millman, precious metals specialist at Gainesville Coins.

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Bart Melek: These developments are good for gold fiadollaryellow

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Gold fiadollaryel closes the week with a strong nodollary as fiadollaryel once again tries to break the $1,800 per ONS level after a mixed US jobs report. Bart Melek adds the following to his explanations on the subject:

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We added 850 thousand new jobs in June, but the unemployment rate rose to 5.9%. The turnout was also still very weak, which means there is no particular impetus for the Fed to tighten monetary policy anytime soon. And this is good for gold. We’re also seeing wage growth slowing, which means that inflation is likely temporary and there’s no big reason for the Fed to start raising rates.

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Everett Millman: This is still one of the main drivers of gold…

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It is still unclear whether there is enough momentum to push gold much higher next week. Bart Melek thinks prices will return to $1,900 per ONS in the next six months. Bart Melek added that another factor to be watched is the movement in oil prices. Everett Millman noted that any additional price increase would result in gold prices in favor of yellow. Everett Millman adds the following to his explanations on the subject:

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I’m interested in what happened at the OPEC+ meeting. Uncertainty around oil can have huge effects on inflation, and it’s still one of gold’s main drivers. If they reach an agreement to limit production, that should raise oil prices even higher.

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Sean Lusk: It’s one step forward and two steps back! Gold failed to hold $1,800

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Everett Millman stated that higher oil prices lead to higher inflation, which is positive for gold prices. “It is also interesting in the case of Russia, which is such a big OPEC+ player,” Everett Millman said. Russia is dependent on energy markets and has not been buying gold lately. If oil rises, the country could see extra funding and possibly start buying gold again. ” said.

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Some analystsdollarser noted that it is a frustrating time for gold bulls. Walsh Trag co-director Sean Lusk said, “It was one step forward and two steps back. Gold price failed to hold $1,800 and dropped to $1,760, its mid-April low. Now we are faced with unemployment data. Everything screams inflation, but the problem was the rally in the US dollar. ” said.

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Sean Lusk: We are returning to the traditional gold buying pattern in mid-July

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Commenting on the markets, Sean Lusk said: “He is optimistic for July as gold’s seasonality is back. We are returning to the traditional gold buying pattern in mid-July. Wedding season is starting. There is a buying tendency. Circular trading is re-entering the market. ”

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Daniel Pavilonis, RJO Futures senior commodities broker, said a break above $1,820, below $1,820, will open the door to another rally next week. Daniel Pavilonis said, “If gold closes above this level, it could go much higher and even make new highs. ” said.

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Watch this data for yellow gold prices next week!

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It will be a pretty light data week as the US celebrates Independence Day. Alongside the Fed’s Wednesday meeting minutes, markets will closely follow Tuesday’s ISM non-manufacturing PMI and Thursday’s jobless claims.

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James Knighdollarsey, ING’s chief international officer, said: “The ISM servicedollarser index is probably the most significant number and should show very strong growth with increased business opportunities thanks to the sector reopening.” Cryptocoin. com for more gold predictions, as we previously reported “Famous sdollarser: Gold PriyadollarYellow Plays These Levels!”

You can review our article .

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