According to analysts, the price of gold can easily run from $ 2,000 next week, as the geopolitical situation does not relax, but the wavy price movement will continue.
Bart Melek: This can change the risk account
Kriptokoin.comAs we have reported, the gold, which ran to record levels last week, fell below $ 1,900 and managed to stabilize just below $ 1,930 on Friday. April comex gold futures operations were traded at $ 1,927,70 with the latest 0.80 %decrease for the day.
When we look forward, the war in Ukraine continues to be the greatest driving force for commodities, but the market is experiencing an indefinite weekend on the geopolitical front. “We watch what’s going on in Ukraine in Ukraine. Obviously, nothing is more important for the market.
According to Suki Cooper, the Fed did not remove the positive emotion for gold.
In addition, many people in the gold market have not convinced that the Federal Reserve could increase its interest rates six times more without a significant slowing of the economy. Standard Chartered precious metals analyst Suki Cooper makes the following assessment:
The price of gold continues to be traded over $ 1,900 despite the first Fed interest rate hike since 2018. The March meeting was hawk, but he did not remove the positive emotion against him. The current geopolitical risk has led to concerns that inflation may rise longer and re -exacerbate long -term interest in gold.
Suki Cooper warns more volatility, in the past few weeks, the prices of the price of the great driving force of the investor’s interest increased. According to the analyst, the physical market is under pressure, while the growth in the interest of investor has compensated for this weakness, which shows that the variable price movement is permanent.
“The market is still looking at six interest rate hikes.”
Aside from geopolitical uncertainty, investors are still digesting the Fed’s new hawk stance. Gainesville Coins Dear Metals Specialist Everett Millman is approaching the issue from this perspective:
He reacted negatively to the Golden Fed, but we saw that metal deleted most of the losses after the central bank’s announcement. Although the Fed is hawk, the market is still looking at six interest rate hikes. This is a very aggressive estimation that does not match the Fed’s 4.3 %inflation expectations this year.
Everett Millman adds that any withdrawal in these expectations will be positive for the further gold price and makes the following comment:
I’m bull right now. It is very healthy to withdraw gold this week. At the same time, we need to pay attention to more volatility.
According to Bart Melek, there is a positive environment for gold price
In addition, the expectations of inflation are still worsen after the US CPI data in February shows inflation as the highest level of 7.9 %and 40 years. Bart We haven’t seen the gigantic increase in food prices, Bart Bart Melek says that the problem is that 60 %of the CPI components increased by 5 %on an annual basis. The analyst explains his effect on gold as follows:
It’s no longer temporary inflation. Permanent. Inflation expectations may be wasted. In the case of gold price, the FED’s promise does not become fast enough to combat inflation. This is a positive environment for gold.
Analysts’ gold price estimates
Bart Melek says that a run towards $ 2,000 is not unlikely, but the problem is that gold can stay there. Analysts also stopped talking about the fall of gold to $ 1,400. According to Bart Melek, who says, büyüt This is the trick of the work, ”if the FED is very restrictive, gold will be sold, but it will be stronger when considered a month ago.
Bart Melek records that the gold price levels to be watched this week are $ 1,920 and $ 1,875, and then the first big resistance appears when it looks around $ 1,980. Everett Millman looks at $ 1,900 in support and $ 2,000 as resistance. “It doesn’t surprise me to see that gold breaks $ 2,000 after $ 1,950, Analyst Analyst said.