The emotion below continues to remain strong this week despite the decrease of approximately 3 %. Gold -term transactions have seen the worst week since November, but in the increasing uncertainty and volatility, the price continues to maintain open support of over $ 1,900, while the sensitivity in the market remains strong.
Level forecasts for gold
Before Kriptokoin.comThe latest results of the Kitco News weekly gold survey, which we include, show a broad -based sense of rise between Wall Street analysts and Main Street investors. Walsh Trading and Commercial Risk Protection Spouse Director Sean Lursk said that gold will continue to be wavy in all financial markets, but still shining as an alternative asset. He added that gold prices have increased over $ 2,000 in the near term. “There is uncertainty everywhere and the question continues to be the question of where to put their money. Investors should buy bottoms,” he said.
Although Lusk is optimistic about gold in the near term, he added that he likes to play gold in the option market because the risks are defined. This week, 16 Wall Street analyst participated in the Gold Survey of Kitco News. Among the participants, nine analysts or 56 %expects gold prices to rise next week. At the same time, four analysts or 25 %tended to decline for gold in the short term, and three analysts or 19 %were neutral about prices.
Federal Reserve decisions are important
Meanwhile, 822 votes were used in online main street surveys. 560 or 68 %of them expect gold to rise next week. Another 147 or 18 percent voters said it was lower, while 115 voters or 14 percent remained neutral in the near term. Gold prices decreased by 2.8 %compared to last Friday, while trading at $ 1,928.90, the feeling of rise comes. Blue Line Futures’ chief market strategist Phillip Street, said she liked the idea of buying gold in decreases. He added that the Federal Reserve was suspicious that he would be able to implement the plan to increase interest rates seven times this year, and he said the Federal Reserve would remain dependent on the data and that the Fed would have to set up if the data does not heal.
The emotion below came after the Federal Reserve increased interest rates by 25 basis points and prepared the plan for the rest of the year. The federal reserve reduced the growth forecast and increased inflation expectations for 2022. At the same time, it sees the potential of seven interest rate hikes. While the federal reserve entered a new tightening cycle, many analysts said that real interest rates will remain in the negative region with the stable increased inflation pressure. However, some analysts looking beyond monetary policy said that gold would be at the mercy of the tides of the safe port demand in the near term.
The price of gold depends on Ukraine
Adrian Day Asset Management President Adrian Day said that he saw lower prices in the near term in the current environment, but the long -term rise trend continues. “What will happen next week depends on the movement in the Ukrainian war,” he said. Analyst will continue to decrease the war premium of gold, but the long -term trend in September will continue to depend on monetary factors, Kul he said.
Some analysts say that as investors adapt to higher prices, gold can be even more consolidated. SIA Wealth Management’s chief market strategist Colin Cieszynski said in the short term that he saw gold in a holding model. “Gold has experienced a large rally and a major correction in the last few months, and perhaps settles in a range where he can pause to digest his last movements between $ 1,920 to $ 1,980,” he said.
