Gold may reach levels reached for the last time in 2013, if the dollar continues to decline, and stock markets go into short-term retracement or even narrow range at the top.
Stephen Innes, Head of Asia Trading at Oanda, said $1400 in the next two months is a fully achievable price. Dollar Index dropped to record low levels, after the comments of the State Secretary of Finance at the World Economic Forum in Davos were supporting the weak dollar.
Gold rose by more than 10 percent since mid-December, driven largely by the hedge of long positions on the stock market, the US dollar and low global inflation.
Taking into account all the available signals, we expect a weak dollar in 2018, and a macro-level short-term stock market adjustment, but after 2018, And about gold in the next few months, the price of $ 1400 is quite possible.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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