Domestic gold prices increase but international prices decrease
Thirteen Wall Street analysts participated in Kitco's gold survey this week, with none calling for a decline. Of those surveyed, eight were bullish on gold for next week. The rest were neutral.
The main argument for the bullish group is the expectation of a rate cut by the Federal Reserve in September, following comments from Chairman Jerome Powell. Ole Hansen, head of commodity strategy at Saxo Bank, said that after a relatively quiet summer for the gold market, the Fed will help open the door by cutting interest rates through the end of the year.
This will weaken the US dollar, creating a positive environment for gold. In the short term, Hansen said that the precious metal could rise above $3,450 an ounce before investors can revisit April's record high above $3,500.
Resistance : 3375 , 3385
Support : 3352 , 3344
The main argument for the bullish group is the expectation of a rate cut by the Federal Reserve in September, following comments from Chairman Jerome Powell. Ole Hansen, head of commodity strategy at Saxo Bank, said that after a relatively quiet summer for the gold market, the Fed will help open the door by cutting interest rates through the end of the year.
This will weaken the US dollar, creating a positive environment for gold. In the short term, Hansen said that the precious metal could rise above $3,450 an ounce before investors can revisit April's record high above $3,500.
Resistance : 3375 , 3385
Support : 3352 , 3344
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.