View full page at metalsmine.com

 

Why selloff in gold is not over: $1,600 danger zone for gold price

From kitco.com

Gold is trading near 2.5-year lows after a hawkish Federal Reserve sent the U.S. dollar and Treasury yields higher. This macro environment is likely to push more people away from gold, creating a great buying opportunity, according to analysts. Volatility in the markets and dramatic FX plays did not leave gold untouched as the precious metal fell another 1.7% this week. After raising rates by 75 basis points for the third time in a row, the Fed upped its funds rate to 4.4% by the end of 2022 and to 4.6% in 2023. For markets, this could translate into another 75-basis-point hike in November and an additional ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis