Gold -term transactions rose on Tuesday, and deleted the pressure of the US Dollar and Treasury interest rates, carried its earnings to the third session in succession and made the highest closing of almost three weeks. Yellow metal, today at the level of rising around the struggle continues. Market evaluations and price estimates of analysts Kriptokoin.comWe have compiled for readers.
According to the analysts in Zanner, this development can be a new ‘supportive story’ for gold
“The only trade currently accepted by the Federal Reserve seems to bet faster interest rate hikes, Bas says Bullionvault Research Director Adrian Ash, expects higher interest rates to“ consume gold like cryptonite ”. However, Adrian Ash draws attention to the following issues:
The Fed clearly says that the firm offer for gold is so late for gold, either too late to catch up, or that it is about to make a historical mistake by walking while the economy cools down.
After the data released on Tuesday showed that the US trade deficit increased by 27 %in 2021 to 859 billion dollars, precious metal prices increased over $ 1,825. In December, it increased by 1.8 %to 80.7 billion dollars. This data shows the second largest monthly increase.
Analysts in Zanner say that a new ‘supportive story’ for gold on the US commercial front for gold can expose the concerns that US officials did not fulfill China’s trade promises. Analysts can be a more pronounced escape to the quality problem such as focusing on trade with China and the Ukrainian conflict, ”said analysts pointing to a climb in demand for safe harbor for gold.
Sevens Report Research offers two different scenarios according to US CPI data
Higher interest rates and a stronger dollar can reduce the interest in the nugchh that is fixed to dollar without incorporation. Sevens Report Research analysts included the following assessment in the news bulletin of Tuesday:
Still high inflation expectations have led the traders to buy gold before the Key CPI report, which will be released on Thursday and has the potential to become an important catalyst for the gold market this week.
Analysts say that if we see that the possibility of an increase of 50 basis points next month is an increase, then the hawk money flows and rising real interest rates to hit the bottom of the underlying and otherwise comment:
If the report is not as hot as fearful, then the FED will be seen by the market as ‘behind the curve’, as a rally will become increasingly possible.
“Gold now targets $ 1,853, the highest level of 2022”
Open interest to the gold -futures markets, according to the advanced figures of CME Group, has now increased to the second session on Tuesday with approximately 3.7 thousand contracts. In the same line, the volume has started upwards and approximately 7.3 thousand contracts rose.
According to market analyst Pablo Piovano, gold prices maintained the upward acceleration with increasing open position and volume on Tuesday, which supports the continuation of the rise at least in the near term. However, the analyst says that the next target for precious metal is at $ 1,853 of the YTD.