Gold prices report: what can drive gold prices higher?

/
0 Comments
The international economic playground is getting interesting. In one corner there's the gold - dollar seesaw, where it seems that more players have joined on the side of dollar. If the latter ones fall, gold prices will go sky-high!

What will happen to gold prices?

Towards the end of August, exactly from 21 to 23, the price of gold found bullish momentum after touching one-month low. During the rest of the week gold stabilized in a range between $1,138 and $1,124 per ounce.

Gold's bearish trend this summer has been brought about by the constant fear of an interest-rate hike by the U.S. Fed. With this increase continually on the prowl, many investors decided to flock to other investments.


How accurate was their diagnosis?


Now those investors and many other experts conjecture about whether the Fed meeting on 16-17 September will announce the anticipated increase. The growing concerns about China's market slowdown - one of dollar’s new playmates - is slipping to the U.S. Economy and influencing the American currency.

On September 1st, the dollar took a step back driving gold higher to $1,143.43 per ounce, after which it stabilized. The Chinese downtrend has also influenced the third playmate: global stocks, which have been falling lately.

Last Friday Non-Farm payrolls report indicated positive figures giving signs of strengthening of the U.S. economy and increasing the chances of a near-term rate hike. This factor brought balance back to the seesaw, lowering gold prices on September 2 to $1,133.65 per ounce. On Thursday 3rd the precious metal continued to decline to $1,125 per ounce.


How does this price performance guide us to sell or buy in the nearest future?


Being gold prices impacted by diverse factors, it is not always easy to predict its future development. The forthcoming Federal Reserve meeting will shed light on the interest rates, but good or bad for gold prices, any unexpected event can change the course of prices in the blink of an eye.

More than a million people do not worry anymore about their finance. They buy gold in the GlobaInterGold Online Gold Shop under rewarding conditions; create their own gold reserve which protects their capital apart from a solid business which translates into a source of income for today and future generations!

Follow the latest news about gold prices in the official Global InterGold website and learn how to manage your gold in the best way!


You may also like

No comments:

Powered by Blogger.