XAU plunges, forecast to increase in the future
World gold prices went down as the market gradually reduced expectations that the US would cut interest rates. On the other hand, the need for safe haven capital in precious metals is also gradually decreasing as the Iran-Israel conflict has calmed down.
Geopolitical uncertainty continues to support gold and any escalation would push prices towards 2,500
XAU will only decline if central banks stop buying or investors return to risky assets.
The rally that pushed gold past $2,400 an ounce last week will be the precious metal's biggest rally this year as the market adjusts to expectations that the US Federal Reserve will maintain maintain positive monetary policy longer than expected.
World gold prices are forecast to increase sharply at any time if the Middle East becomes more unstable. On the other hand, precious metal commodities are also restrained from rising thanks to a rising USD on a global scale. A strong USD always puts pressure on gold, thereby restraining the rise of this metal commodity.
Geopolitical uncertainty continues to support gold and any escalation would push prices towards 2,500
XAU will only decline if central banks stop buying or investors return to risky assets.
The rally that pushed gold past $2,400 an ounce last week will be the precious metal's biggest rally this year as the market adjusts to expectations that the US Federal Reserve will maintain maintain positive monetary policy longer than expected.
World gold prices are forecast to increase sharply at any time if the Middle East becomes more unstable. On the other hand, precious metal commodities are also restrained from rising thanks to a rising USD on a global scale. A strong USD always puts pressure on gold, thereby restraining the rise of this metal commodity.
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TP1: 2385
TP2: 2393
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