At the core of the rise was the increased tensions between the United States and North Korea. That is, the appreciation of the precious metal was predominantly determined by the search for a safe haven on the part of the investors.
Where the dollar will move to will largely depend on the direction of trading in the US currency, according to analyst Vince Lance of Echobay partners.
But if gold continues to appreciate, in the midst of appreciation of the dollar, it will certainly be possible to say that its demand has been predetermined by the search for security. And such an appreciation, according to Lansky, will not be fundamentally justified and will rather be short-term.
Can gold continue to rise to $1,900?
According to the expert, this is possible, but there are several key factors that predict such an increase and which were present at its previous appreciation to this limit.
We need a substantial change in the market situation to see the explosion in the price of gold to similar values.
No comments:
Post a Comment