364
151 shares, 364 points

Golden pricesyellow fell sharply in June and are still struggling to gain momentum. The world-famous analisdollarser, on the other hand, makes important gold predictions. Let’s examine the hot forecasts together…

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Suzanne Hutchins: There isn’t a huge demand for gold right now

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Hawkish comments from the Fed lowered demand for the metal used as a hedge against inflation in June. Gold prices fell in June, the biggest monthly drop in four-and-a-half years after the Federal Reserve surprised investors with its willingness to contain inflationary pressures. Gold fell 7 percent in June to $1,761 per ONS. That left the price within its range so far, but it was the worst monthly drop since November 2016.

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Gold miners’ shares have also fallen 16 percent this month, according to the NYSE Arca Gold Bugs index. Gold struggled last month against the stronger dollar and rising bond yields after Fed officials’ statements pointing to an increased likelihood of a rise in interest rates in 2023. Gold suffers when bond yields rise because the metal is not providing returns for investors. High inflation could force the Fed to raise interest rates at least twice by the end of 2023, according to a new poll among leading academic sdollarsers for the Financial Times. Newton Investment Management fund manager Suzanne Hutchins said:

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There isn’t a huge demand for gold right now. Gold is a great barbell: it’s fine if inflation is really high, and fine if you’re getting a lot of deflation, but we’re in this middle zone.

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analisdollarser on Citi: Gold fiadollars will drop yellow and trade at $1,760 next year!

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Suzanne Hutchins said her fund has reduced its holdings in gold and gold stocks to 6 percent from 18 percent last year. Gold prices rose to record highs of more than $2,000 per ONS in August 2020 amid concerns about the impact of Covid-19 on the global. But gold has suffered as investors become more optimistic about the recovery as vaccines become available in the US and Europe.

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Analisdollarser at Citi said they expect the gold price to continue to decline throughout the summer, but not to collapse. Analisdollarser at Citi estimates that next year prices will be $1,760 per ONS. Yet, in the week ending June 25, holgs in gold-backed exchange-traded funds saw only about 8-tonne small outflows, or 0.2 percent of total holdings in gold ETFs, according to data from the World Gold Council.

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sdollarser: These factors could be a bullish catalyst for gold fiadollaryellow

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Sdollarser is split over how significant and prolonged inflation will be and when central banks will respond by raising interest rates. Cryptocoin. com, however, some gold enthusiasts believe that inflation could get out of control and increase the price of the precious metal, which is often considered an inflation hedge.

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Alasdair McKinnon, director of the Scottish Investment Trust, said he doubts the Fed and other central banks can control rising inflation pressures on everything from home prices to used cars. Alasdair McKinnon said:

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We’re looking at the inflationary period of the 1970s and the 1970s when gold outperformed everything else. It seems to be the only asset class that is undervalued.

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