Skip to main content

 

Gold holds strong despite headwinds!

Gold is heavily influenced by the US dollar now, and if it is signaled next week that there will be 3 interest rate cuts in 2024, this will lead to a new wave of gold buying.

As mentioned in the headline, gold is facing headwinds, including the strong US dollar and high bond yields. On Friday, gold reached record highs due to a weaker US dollar and lower bond yields, but now the tailwinds have turned, and inflation has stagnated, thus also reducing expectations for 3 interest rate cuts next year.

Considering the high levels of the US dollar and bond yields, it is surprising that the price of gold has remained high, but there is no doubt that the upward momentum has stalled. The Federal Open Market Committee will hold a meeting next week on interest rate cuts, and it is hard to believe that rates will decrease with the recent high inflation in the US. The tension between what the market says and what the Fed has said has also influenced commodities. The answer here will determine the price of gold!

It depends on what is said next week, but if three cuts are proposed, it will send gold to new heights.

 

High figures for silver!

There is usually a lot of resistance in the silver price just above $24.5 per ounce, but in Wednesday's trading, silver saw a slight increase. By the end of week 11, silver had reached $25.2 per ounce, with this, silver has moved in the right direction, and there is a greater chance that we can also reach $26, breaking up and surpassing the previous peaks. We have then experienced what is called the Golden Cross, which obviously affects the market afterward. This will likely weaken the US dollar. Silver is widely used in the industry, and we must follow as demand is still high. We also believe that interest rate cuts worldwide will happen soon, which will drive up the prices of precious metals.

Further advice: Follow the Fed meeting next week, as this will be crucial for the price of gold!

 

Comments

Popular posts from this blog

Gold'r rise to all-time high!

  ‘Big change’ in global growth is bullish for commodities including copper, says VanEck CEO   Silver futures The prices of gold and silver are doing well this year. Silver soared to a high of $29.75 this month, much higher than last year’s low of $20.73. The increase in silver price lagged behind the increase in gold price, as reflected in the rising Gold/Silver ratio since the middle of the month.   Gold'r rise to all-time high! Gold's rise to all-time highs above $2400 per ounce this year has captivated global markets. China, the world's largest producer and consumer of the precious metal, is at the forefront of the extraordinary ascent. Worsening geopolitical tensions, including war in the Middle East and Ukraine, and the prospect of lower US interest rates all burnish gold's reputation as an investment. But juicing the rally is unrelenting Chinese demand, as retail shoppers, fund investors, futures traders, and even the central bank look to bullion...
  Markedet er i en reflasjonær modus, noe som betyr at det er betydelig etterspørsel etter råvarer over hele verden. Dette gjelder alle varer, ikke bare gull; det inkluderer olje, sølv, kobber og mer. I tillegg når den amerikanske dollaren sine topper.   Dette er noen av de mest volatile makroperiodene!!!     Høye tall også for sølv!   Prisen på sølv stiger ettersom handelen er fokusert på gullmarkedet. Korrelasjonen mellom gull og sølv holder seg under 85, noe som er veldig positivt for sølv.   Sølv beveger seg mot nærmeste motstandsnivå på $27,80-$30, som også er i tråd med vår kortsiktige prognose.       Vi har opplevd det som er kjent som et Golden Cross, som tydeligvis påvirker markedet etterpå. Dette vil sannsynligvis føre til en svekkelse av amerikanske dollar.   I tillegg forventer vi at rentekutt vil skje over hele verden snart, noe som vil drive opp prisene på edle metaller     Ytterligere råd:   Sølv er mye bruk...