Gold prices are trying to hold above $ 1,800 per ounce. However, analysts warn a risk of sales in the light of the strengthened US dollar. Let’s examine the gold estimates for next week …
Chris Weston: These are the levels to be followed for gold prices!
Pepperstone Research President Chris Weston said that one of the most important things to watch is whether Gold can keep the $ 1,797-90 support zone. The main event of the next week will be the Federal Reserve’s interest rate announcement after the press conference planned to be held on Wednesday by the Central Bank President Jerome Powell.
“We do not feel that we are in a major announcement in the US Interest Market, which is extremely shocking the interest market and causes major fluctuations in second -degree derivatives such as USD, stock and gold,” Chris Weston said. While the US inflation is higher than expected, the US core CPI is 4.5 %in June, while the employment situation continues to be the most important concern for the Central Bank.
Chris Weston: Watch out for this development! It may have an effect on gold
At the press conference in June, Jerome Powell reiterated that the FED would signal “long before” before reducing asset purchases or increasing interest rates. Chris Weston adds the following to the subject:
Nevertheless, nuance moves important and single word markets. Jerome Powell does not seem to upset markets, but any narrative that creates a strong consensus that September may be an official announcement date for a discount may reveal sellers in US treasures and injected life into the markets. This will have an impact on USD and gold.
Daniel Ghali: Gold prices are trying to harden despite the falling real rates
Kriptokoin.comAs we have reported before, a problem for gold prices is that it lacks new supportive factors that can increase the prices of $ 1,800 per ounce. This week, it was another proof of the inability to recover the precious metal by the fall of stocks and the sale of US treasury bonds. TD Securities Adds the following Daniel Ghali.
Gold prices are trying to harden despite the falling real rates. While the ongoing weakness of the yellow metal against real returns, a fragile micro structure, at the same time, the lack of gold despite the risk -free trade environment underlines that speculative flows continue to remain weak. Global macro growth concern has accelerated re -pricing in the Fed’s expectations. However, gold prices were still unable to catch an offer and strengthened a deeper withdrawal potential.
Everette Millman: I am currently having a bit of a decline in gold prices
Daniel Ghali added that he foresees a decrease to $ 1,730 per ounce in Gold. Gainesville Coins Dear Metals Specialist Everette Millman emphasizes that the minimum resistance road for gold prices is downwards. Gainesville Coins Dear Metals Specialist Everette Millman adds the following to his statements:
Gold saw short -term volatility. Although these price movements are not large, gold seems to be returning quickly. I am currently having a little decline in gold prices.
Bart Melek: We see $ 1,730 as support
TD Securities Global Strategy President Bart Melek said that Gold, who failed to rise due to low stocks, could be under the risk of withdrawing while recovering. Bart Melek adds the following to his explanations:
Stocks took back all the losses. We also experienced a little increase in interest rates. This combination leads to the improvement of gold here. We see $ 1,730 as support, but we do not expect it to fall to this level today or tomorrow.
Here are the data to be followed next week for gold prices
Monday:New home sales data.
Tuesday:Durable goods orders.
Wednesday:Federal reserve interest rate announcement and Jerome Powell’s press conference.
Thursday:2. Quarter GDP data, unemployment applications and waiting home sales.
Friday:PCE Price Index.
