352
139 shares, 352 points

Kitco News’ senior analyst Jim Wyckoff makes important gold price predictions. Jim Wyckoff expects further declines for gold and silver in the near future. Let’s examine Jim Wyckoff’s predictions together…

(mtag101702)

Short and long term forecasts for gold price from Jim Wyckoff

(mtag101702)

Cryptocoin. com

As we previously reported , following a stronger-than-expected jobs report, gold rallied along with the series of stocks as s added 850,000 nonfarm jobs, higher than the originally expected 700,000. However, digging deeper into the employment report, Jim Wyckoff noted that some indicators, such as the unemployment rate and the labor force rate for participation, did not show a strong improvement.

(mtag101702)

This has signaled to the markets that the US Federal Reserve is not ready to take a hawkish move anytime soon, according to the analyst. Jim Wyckoff said long-term gold investors should pay less attention to the Fed’s k-reactions. Jim Wyckoff expects further declines for gold and silver in the near future. However, the analyst seems to be bullish on the market in the long term. Jim Wyckoff adds the following to his comments on the subject:

(mtag101702)

I really don’t think FED action makes much of a difference in the short term, and I’ll tell you why. Commodities are highly cyclical and I think you are in a cyclically longer term bullish. The crude commodities sector… This week, we saw crude oil prices reach their highest level in two and a half years. We saw copper not far below its 10-year high, so I think we’re seeing a cyclical rise.

(mtag101702)

Disclaimer: Cryptocoin. The articles and articles on com do not constitute investment advice. Cryptocoin. com does not recommend buying or selling any cryptocurrencies or digital assets or Cryptocoins. com is not an investment advisor. Hence Cryptocoin. com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

(mtag101702)

Warning: Cryptocoin. Citing the news content of com and quoting by giving a link Cryptokoin. com’s permission. No content on the site can be copied, reproduced or published on any platform without permission. Cryptocoin. Legal action will be taken against those who use code, design, text, graphics and all other content of com in violation of intellectual property law and relevant legislation. .

(mtag101702)


Like it? Share with your friends!

352
139 shares, 352 points

What's Your Reaction?

hate hate
245
hate
confused confused
981
confused
fail fail
613
fail
fun fun
490
fun
geeky geeky
368
geeky
love love
1226
love
lol lol
122
lol
omg omg
981
omg
win win
613
win

0 Comments

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