Gold price can continue to exceed 3,000 USD

Last week, the world gold sometimes peaked over $ 3,000 per ounce. Although partially cooled down, the above movements still make the market more excited. According to the week’s survey results Kitcothe psychology of price increase of experts in the industry and retail traders is still strong. Most of them predict higher gold anchor this week.

Of the 15 Wall Street analysts participating in the survey, 9 experts predict gold price will increase. In the opposite direction, this rate is only 3 people. There are 3 other experts assessing highly valuable metal.

Kitco Organizing online surveys with retail investors Main Street and collected 262 votes, the most from the beginning of the year until now. 67% of gold expects to increase over $ 3,000 this week, while 47 people think that precious metals are lower. The remaining 15% expect the market not to volatile.

Adrian Day, president of the asset management company of the same name, said the strong purchase of central banks will continue and gold can be over 3,000 USD per eaven. “That round figure is not a barrier for central banks or gold buyers with their own money,” he said.

Darin Newsom, a high -level market analyst at Barchart, said that both basic and technical analysis are not important at this time. Gold is a safe shelter at the global economic and political time in a state of fluctuations. According to this expert, this is the most suitable way to explain and visualize the current situation.

Explaining his optimistic view, Sean Lusk, co -director of trade risk prevention at Walsh Trading, refers to the speed of changes under the Donald Trump administration so fast that “it is difficult to predict any market in just a few days”. According to him, the market every 12 hours has more important and highly influential news.

In this environment, each person has not seen the positive or negative impact of an information given, had to immediately receive new data. Investors are easily “threatened” by economic data transmitted by others, whether it is President or Minister of Finance, Prime Minister or friends.

This week, many important news comes from central banks. The Central Bank of Japan, the US Federal Reserve (Fed), the Swiss National Bank and the British Central Bank are expected to announce the new interest rate.

Kevin Grady, chairman of Phoenix Futures & Options, said that $ 3,000 is an important psychological milestone and the next time can record a decline. However, he thought the above development created a healthy market. “The best way to check the market is how strong is to try to sell and we will know how resilient it is,” he said.