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.