Gold prices lost last week’s gains, as a stronger US dollar and high US treasury returns put pressure on precious metal. The market predicts that after a major deficiency on the US employment front, the Federal Reserve may continue to ignore the increasing inflation. Kriptokoin.comWe have compiled up -to -date gold comments and predictions, let’s examine together…
Edward Moya: This will cause short -term negativities for gold prices
Oanda Senior Market Analyst Edward Moya, interpreting the markets, turned the eyes to critical developments:
Gold prices fell with the expectations that a delayed recovery of Treasury returns would allow the FED to tolerate higher inflation in the short term. The Wall Street is more interested in inflation than ever, and with the possibility that the Fed is narrowed in December, the curve will become upright and this will cause short -term negativities for gold prices.
The US employment report in August revealed that only 235,000 positions were replaced by the expected 720,000 positions.
James Knightley: November still looks good for the market…
“When Covid is re -revitalized by Covid, the FED eliminates the possibility of going to a reduction in September, but November still looks good,” Ing said James Knightley. The slowdown in employment gains may mean a really more patient federal reserve, especially in relation to the highly anticipated contraction announcement. Win Thin, President of the BBH Global Currency Strategy Strategy, made the following comments:
235 thousand NFP earnings created a lot of disappointment… However, it is not clear whether this is a supply problem or a demand problem for the labor market. Due to this uncertainty, we have taken back the FED’s recollection announcement expected from the FOMC 21-22 September. There will be some discussions on the market as to whether the FED will really start to shrink at the 14-15 December meeting or wait until January 25-26.
Edward Moya: Gold price may drop to $ 1,755
The about $ 35 gold decline on Tuesday is an important return of last week’s 1 %rally. At these levels, Edward Moya said that precious metal was “vulnerable ve to more sales and that the current decline tendency was temporary. Edward Moya made the following comments on the subject:
The valuable metal may drop to $ 1,755, and if this level is easily broken, a final decrease may see that prices target the $ 1,700 level. When the market sees that it has left behind its price pressure in the next few months, the reality of global disinfitation forces will suddenly put an end to the rise in the Treasury returns and trigger the re -start of gold for many investors.