XAU / USD: Gold demand remains
The net long position in
gold by hedge funds and other speculative investors held on
at multi-year highs, and the price-spot with the opening of today’s trading
day – close to the level of $ 1315.00 per ounce. After Friday
gold price quotes jumped to two-year high, while August
Gold futures on the Somekh finished trading with an increase of 4.7% at the level of
1322.00 US dollars per ounce, showing the biggest one-day rise
From September 2013, gold is still in demand among investors.
Some economists raise
forecast for the price of gold to 1375 dollars from 1300 dollars per ounce. results
British referendum increase the uncertainty of world prospects
economy, and the Fed seems to be in no hurry to increase interest rates in the United States.
So, Fed Governor Dzherom Pauell said on Wednesday that Britain’s decision
withdraw from the EU increased the risks to a fragile world economy, and made it clear that the Fed
It adheres to a softer policy on raising interest rates.
Today at 17:30 (GMT) acts
another representative of the Federal Reserve, Fed President St. Louis Dzheyms Bullard, who,
It may also signalize the Fed’s penchant for softer monetary
And it is generally positive
should affect the US stock markets and quotations of prices for gold, which
greatest demand during periods of low interest rates and
turbulence in the financial markets. In the same period of rising interest rates gold
difficult to compete with the profitable assets, since this metal does not bring
Following yesterday’s trading on the Comex
August gold futures closed up 0.7% at 1326.90
dollars per troy ounce.
The price of gold is still
holds above 1300.00 level and the demand for it will continue in the short term.
But some market participants
expect the price of gold could reach $ 1,400 an ounce by the end of the year.
To consider the possibility of
short positions in gold, you can return only after markets
calm down after the events in Europe and the Fed did not announce again the propensity to
tightening in US monetary policy.
From the news today also pay attention to the performance of the head of the Bank of England Governor Mark Carney (15:00 GMT). M.Karni it can have a very strong influence not only
per pound, but the entire foreign exchange market, including and on the gold price quotes.
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