Gold unexpected forecast, heading towards record peak
World gold prices plummeted despite the rising USD index. Recorded at 9am, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 104,075 points (up 0.01%).
This precious metal is predicted to reach 3,000 USD/ounce - an increase of 30%. Gold prices increased at a time when the USD strengthened and inflation expectations decreased. During that time, the FED is expected to continue keeping interest rates high. All of these developments would normally hurt gold prices, but things are going against the grain.
The reason for the increase in gold prices is not on the supply side, because it has stabilized in recent years. The reason lies on the demand side because central banks around the world view gold as a reserve asset.
Currently, the Chinese yuan has lost its status as the second reserve currency in the world. Countries such as Japan, Russia, Türkiye and Poland fear over-reliance on US dollars. Thereby, gold is sought to avoid economic risks.
This precious metal is predicted to reach 3,000 USD/ounce - an increase of 30%. Gold prices increased at a time when the USD strengthened and inflation expectations decreased. During that time, the FED is expected to continue keeping interest rates high. All of these developments would normally hurt gold prices, but things are going against the grain.
The reason for the increase in gold prices is not on the supply side, because it has stabilized in recent years. The reason lies on the demand side because central banks around the world view gold as a reserve asset.
Currently, the Chinese yuan has lost its status as the second reserve currency in the world. Countries such as Japan, Russia, Türkiye and Poland fear over-reliance on US dollars. Thereby, gold is sought to avoid economic risks.
Comment:
Comment:
🔴Fed Minutes Preview: Discussions over rate outlook on focus as markets pare back chances of rapid cuts
The Federal Reserve (Fed) will release the minutes of the March policy meeting on Wednesday. Investors will pay close attention to comments regarding the inflation outlook and the possible timing of a policy pivot.
The Federal Reserve (Fed) will release the minutes of the March policy meeting on Wednesday. Investors will pay close attention to comments regarding the inflation outlook and the possible timing of a policy pivot.
Comment:
-This year, I expect one rate cut in America in September.
-The European Central Bank is closer to cutting interest rates and inflation in Europe is heading towards decline.
-Gold continues to rise to $2,450 due to geopolitical tensions.
-The European Central Bank is closer to cutting interest rates and inflation in Europe is heading towards decline.
-Gold continues to rise to $2,450 due to geopolitical tensions.
Comment:
Figures released Wednesday showed a key inflation measure has beaten economists' forecasts for three straight months. The core CPi index increased by 0.4% compared to February and increased by 3.8% compared to the same period last year, similar to the previous month.
Comment:
🔹Bloomberg on the former director of Israeli intelligence: Iran’s response may lead to a strategic change in the war and even to its end.
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