In Singapore this week, a precious metals conference, including assets such as gold and silver, took place. According to the speakers here, high inflation for decades, geopolitical turmoil and increasing global slowing factors are dangerous to lead to $ 2,000 per ounce of gold. Here are the details and spoken of the conference…
Big forecasts have arrived for gold
This week, the Mansmen spoke about precious metals in Singapore. Interesting estimates came from the speakers. Gregeren said that at the end of the year, Gregeren said that ounce of $ 2,000 and silver could rise to 26 dollars. Gregor Gregersen, the founder of Silver Bullion, used the following statements:
After decades of expenditures and excessive loose monetary policies, we go towards a stagflation period. In such an environment, safe port assets such as physical gold and silver are some of the best things you can have.
According to Rhona O’Connell of Stonex Group, bullion prices face resistance to $ 1,930. However, if this level is cleaned, technical trade can be reached to 2 thousand dollars. Nevertheless, Citigroup thinks differently, which has reduced the three-month point price target between $ 300-1.825. The Bank said the FED, real odds and relatively strong dollar can create weight on gold.
OBJECTIVES ON ANNUAL BASE Over $ 1,900
Citi analysts expect to support high volatility and stagflation protection at approximately $ 1,800. However, they keep 6-12 months of yellow metal forecasts at $ 1,900. Consultants at Metals Focus predict that the demand for precious metal for various reasons will decrease. The reasons include COVID-19 and weak jewelry sales and individual investments in China with economic slowdown.
The group said in the annual Gold Focus report, “As policy rates rise and inflation decreases, we expect real interest rates and returns to increase significantly and put pressure on the price of gold,” he said. Gold Focus predicts that the price of gold will be $ 1,830 in 2022. In other words, last year’s estimation of $ 1,799 made an increase of 1.7 percent.
With the rise of US inflation to the highest level of 41 years, the price of gold recorded towards the end of the week. Spot gold price increased by more than $ 23 per ounce. It increased to $ 1870 and fractured it on a closing basis. Gold on Friday has been closed at $ 1,875.50, the highest level since May 5th. Meanwhile, the price of gram gold is around 1030 pounds with an increase of 1 percent. On the other hand, the rise of ounce of gold, 1.31 percent. So, which levels we see, maintain my mystery.