Gold prices are now yellow, scaring investors. Because fiyadollarsar oscillates in both directions. But the hope is still not gone… Some experts are still waiting for $2,000 at the end of the year. However, due to the recent price action, some analystsdollars are now also calling for a drop below $1,700. Let’s look at the hot gold interpretations together.
Analisdollarser: There may be short selling and gold prices may slide below $1,700!
Since mid-July, the gold market has tested resistance at $1,830 an ounce and failed to hold those gains three times. Last week’s failed move now makes it four. Last week, the market seemed to have returned after a gloomy summer and finally turned bullish. Disappointing employment numbers in the US pushed gold prices to a one-month high, and then the market hit a brick wall.
After the long weekend, gold opened the board lower on Tuesday and never looked back. Gold prices yellow now close the week below $1,800 an ounce. While there is some support in the market, there is a growing concern that gold’s failure to sustain any bullish momentum could begin to lure shorts and push the price back to August lows below $1,700 per ounce.
Why are investors shifting from gold to other markets?
It’s easy to understand why the gold market is lackluster; Just look at the stock markets. With equity markets in a strong uptrend from one record high to the next, many investors see little reason to hold on to safe-haven assets like gold, according to some market analysts. 1% of 10-year yields, along with a lack of safe-haven demand in bond markets. We can see that it goes above 3.
However, this belief in stock markets seems very unfounded. There is still a lot of uncertainty in the global, but investors prefer to ignore it. For example, Treasury Janet Yellen came out earlier this week and said that the USA may not meet its debt obligations next month. In a letter to Congress, Janet Yellen said:
With all available measures and cash on hand completely exhausted, the United Statesdollar series will be unable to meet its obligations for the first time in our history. The Treasury cannot make a precise estimate of how long the extraordinary measures will last. However, exhaustion of cash and extraordinary measures during October is the most likely outcome, according to the best and most recent information we have.
According to analisdollarsere, gold fiadollars will stay in a yellow dormant!
In previous years, such a warning would have almost caused panic and headlines around the world. This is not even a development that is on the radar for investors now. They just feel that the risk of policy error is increased. Finally, let’s not forget the ongoing threat of inflation. Cryptocoin. com
As we have previously reported , the U.S. Labor Market is 8% per annum in the Producer Price Index (PPI). 3 reported increases. This is a new record for the index. It may be a matter of time before investors wake up to the rising risks in the market, but until then, gold will remain dormant, according to analysts.