Gold prices yellow witnessed mixed trading sessions in the week we left behind. The price fluctuated in a relatively narrow range around $ 1.780 after a quiet start to the week. However, gold weakened on Thursday and dropped to a two-week low at $ 1.756. The precious metal closed the past week in negative territory below $ 1.770. So what’s up for gold this week? What are the estimates for the price?
Bart Melek: I wouldn’t be surprised if we trade around $ 1.810 in gold.
Bart Melek, head of global strategy at TD Securities, commented on the markets and pointed to the key levels for the gold prices yellow. Bart Melek said the following regarding the issue:
The 100-day movement path looks like a brick wall for an average of $ 1. 799. This is a pretty big technical level. If we pass these 100 days, I would not be surprised if we trade around $ 1.810.
Sean Lusk: Gold prices yellow could be looking at a critical $ 1.895 level
Walsh Trag co-director Sean Lusk said that gold finally has a chance to deal with $ 1,800 when it approaches the next target. If gold succeeds, yellow metal could be looking at $ 1,895, a critical level that has not changed since the beginning of the year, according to Sean Lusk. However, Sean Lusk added that a close below $ 1.734 would be disastrous and could pull gold back to $ 1.677.
Ed Moy: Concerns about inflation and a weakening US dollar are working for gold and silver
Inflation and the weakening concern for the US dollar are driving more than a dozen states to recognize gold and silver coins as legal means of payment. According to Ed Moy, the former director of the US Mint, the Constitution allows Devledollarsere citizens to pay their debts with gold and silver. Ed Moy, director of the US Mint under President Bush and President Obama from 2006 to 2011, said several states have already started implementing this initiative. Ed Moy adds the following to his comments on the subject:
What Devledollarser allows to do is to allow its citizens to pay off their debts in gold and silver. Until recently, it has never been used since it was written into the Constitution. After the Financial Crisis, some devledollarser, current number 12, are trying to figure out how to make Article 1, Chapter 10 work to allow their citizens to buy and sell things in gold and silver. Utah has already advanced and started to put this into action. Most of these eyaledollares take a few steps, and the first step is gold and silver exempt from taxes and capital gains.