Home » Business » Gold Prices May Be At These Levels Next Week!

Gold Prices May Be At These Levels Next Week!


This week has been a “game changer” for gold prices as prices soared to $ 1,900 per ONS and the rest of the markets saw chaotic trading. So what levels are on the table for gold next week? Here are the predictions and critical levels …

Edward Moya: The sale of gold-backed ETFs has also stopped! I’m rising on gold

OANDA’s senior market analyst Edward Moya told Kitco News that after a major sale in the crypto space, the attractiveness of gold has once again remained on the radar for many investors, including the new institutional coin. Edward Moya adds the following to his comments on the subject:

This was one of those weeks that changed the rules of the game for many investors. The crypto bubble burst. And while cryptos haven’t disappeared anytime soon, the argument that Bitcoin is good inflation protection attracts a lot. Corporate money was questioned. Going forward, people will be much more conscious and anxious about Bitcoin fluctuation. This causes money waves to bounce back to gold. Gold-backed ETF sales have also stopped. I’m rising on gold.

Gold price levels above $ 1,900 are on the cards in the not too distant future. We will see how aggressive the FED is in tightening. I don’t think it will happen. Inflationary expectations will rise as the FED comes to its conclusion. The FED is very happy and ready to let inflation rise above the target.

Edward Moya: This is the perfect setting for gold prices…

Edward Moya said the risk is reduced, which could trigger another rise in the Federal Reserve’s 10-year Treasury yields. Edward Moya adds the following to his comments on the subject:

The movement in the bond market will likely pose the primary risk for gold prices. The story of Rising Treasury returns is not good for gold. But the FED is locked in and can’t just turn around and start normalizing policy. This will trigger it. There is a lot of chaos… And despite comments in the FED’s April meeting minutes that some officials will be ready to talk about contraction in “upcoming meetings” due to economic progress, the FED remains one of the last central banks to tighten. And this is the perfect environment for gold. Due to the emerging risks, gold will benefit as an inflation protection and a safe haven asset. Other central banks will be in tightening mode much earlier than the FED. And that means the dollar is weakening.

The expectation is that the data cycle will be disappointed as markets adjust downwards. Although we will decrease at some point, I do not foresee an environment where real interest rates rise too much. This is a supportive environment for gold. $ 1,900 per ONS is on the horizon. Markets may not have to wait very long to see this break. We see that Gold still continues to cross the $ 1,900 mark. When you look at the gold flow last week, we were firmly around $ 1,820-30. We are now at the $ 1,870 level and crossed the 200-day moving average. Altın’s shorts are also loosening. There is plenty of room to go higher.

Edward Moya: We’ll see a few more trials next week at $ 1,900

Edward Moya stated that gold’s outlook is on the rise in the short to medium term. “We’ll see a few more trials next week at $ 1,900. I won’t be surprised if we get this level out soon. ” said.

Gold is definitely in an uptrend, but the precious metal should hold $ 1,846 as the support level. I remain neutral with regard to gold. We can retreat. A big number for me is $ 1,846. This is a really big level of support. If we test it again next week, it should hold. If we don’t, the next level of support for gold is at $ 1,808.

To be informed instantly about the last minute developments, Twitteralso follow and Telegram Join our channel!

See also  not just a new battery for her

Leave a Comment