My prediction for the coming months for gold is that the yellow metal is going to be dropping further to 1400 levels maybe even lower. arguments backing this up are:
- Rasing interest rate of the dollar causes a rise of the dollar and so a decrease in gold price. And the rates are going to get higher.
- gold consumption is and wil be decreasing next months too come this is also due to the seasonality of the metal.
- us bonds/yields are expected to rise cause the us debt is becoming more attractive to buy, this is because debt is becoming more profitable to own.
This al is the reason why I thing gold is going for a nose dive.
- Rasing interest rate of the dollar causes a rise of the dollar and so a decrease in gold price. And the rates are going to get higher.
- gold consumption is and wil be decreasing next months too come this is also due to the seasonality of the metal.
- us bonds/yields are expected to rise cause the us debt is becoming more attractive to buy, this is because debt is becoming more profitable to own.
This al is the reason why I thing gold is going for a nose dive.