Gold prices rose to $ 1,779 on Wednesday after rising over 0.5 percent. For December, US gold futures increased by 0.3 percent and traded for $ 1,779. So, what are the expectations now? Kriptokoin.comWe have compiled the comments of 3 analysts…
Oanda Analyst: There is not much belief underneath now
Gold (XAU/USD) faces the pressure of high real returns as the US federal reserve approaches asset purchases. In the meantime, Edward Moya, a senior market analyst in the Oanda brokerage house, said, “There is not much faith on the novel at the moment. We do not know exactly whether we can see any big change from the Federal Reserve. You often see impressive gains and this was the primary driving force to keep the risk appetite strong.”
Anz Bank Analysts: Risk appetite put pressure on gold
Anz Bank strategists reported that despite the strong individual investment, strong risk appetite put pressure on the safe port investment. Higher real returns from strategists close the upward direction of gold. Although the risk appetite continues, downward risks to economic growth due to ongoing energy outages are increasing. Strategists use the following statements:
“The US dollar, the FED’s shrinkage plans and an inverse wind provoked by the appearance of interest rates for next year. The US economic growth can increase a better performance than other regions. ETF gold assets are falling. However, investors have added long positions in the last weeks. In China and India, physical demand is collected for both countries.”
Pablo Piovano: Gold price focuses on $ 1,800 again
On the other hand, Kitco analyst Pablo Piovano focuses on futures for gold. Considering the pre -data of CME Group for the Gold Futures Markets, the open position reversed the withdrawal of two -day reversal and increased by approximately 1.5 thousand contract on Tuesday. According to the analyst, in the same direction, the volume has increased by about 10.6 thousand contract and increased recent irregular performance.
According to the analyst emphasizing that the recovery seen in gold prices yesterday took place in the midst of the open position and volume increase, this shows that at least the more rise in the very near term seem to be more likely. However, he says that gold can gradually approach the key resistance of $ 1,800 per ounce.
