358
145 shares, 358 points

Gold fiadollaryellow showed signs of rebound as it broke above $1,800 today. Spot gold rallied as high as $1,802 in the morning saadollar series. It is trading at $1,800.54 at the time of writing. So what’s next? Here are the cool opinions of analisdollar…

Edward Moya: We are in the consolidation period

Edward Moya, senior market analyst at OANDA brokerage firm, said: “We are in a period of consolidation for gold, but ultimately I think monetary policy should match serdollary and inflation concerns should be positive for the precious metal. “The earnings are pretty impressive and it surprises a lot of people… US tech stocks are favorites for many investors, which is currently reducing safe-haven demand.”

Meanwhile, StoneX analyst Rhona O’Connell said that interest in silver has increased in the professional market, which bodes well for the precious metal. It is expected that the ECB will not make any changes in policy and leave the pandemic emergency bond purchase program decision until December.

ANZ analisdollarseries: Gold fiadols to rise to $1,850 before yellow pullback

“We’re seeing more buyers being attracted to the gold market, and that partly gives strength to the narrative of higher prices,” said Nicholas Frappell, global managing director of ABC Bullion. Cryptocoin. com

As we reported , investors are waiting for the ECB meeting and the US Federal Open Market Committee policy meeting on November 3 for the timeline to reduce bond buying.

Gold is generally seen as an inflation hedge, although lower stimulus and increases in interest rates reduce the attractiveness of gold by increasing the yield on government bonds. “Gold’s supporting ground is weakening as the Fed approaches a decision to cut a bond purchase from November and rate hikes from mid-2022,” ANZ analystsdollar said in a series of note. “Negative real returns and inflation risks will help the price rise to $1,850 an ounce before retracting next year and beyond,” he said.

The World Gold Council (WGC) said gold demand fell in the third quarter to its lowest level since the last quarter of 2020. However, WGC expects physical demand in major consumer India to strengthen in the fourth quarter. “Physical demand is pretty good, but gold’s support will likely depend much more on the degree and strength of investor demand,” said Frappell of ABC Bullion.


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