In a note on the gold outlook for December, the Quantum Mutual Fund said gold could improve if a currency or debt crisis emerges. Here are the details…
What affects gold prices?
Growing concern that inflation will slow the economy and sabotage the stock market rally pushed gold closer to $1,900 in November. cryptocoin.com As we also reported, gold temporarily fell below the $1,800 level after the strengthening of the dollar, but closed the month at $1,774.5 per ounce, down 0.5 percent.
According to the fund, although the price movement of gold will be determined primarily by how inflation and US Fed policy will shape, it will be prudent to hold the strategic asset class in these times of economic and health uncertainty. Quantum Mutual Fund, alternative investments senior fund manager Chirag Mehta, used the following statements:
The emergence of the Omicron variant has begun to affect the economy, which was previously considered ‘post-Covid’ and it is clearly putting support in gold while other asset markets see some money being removed from the table to assess the real impact.
Experts expect global central bankers to react differently to higher inflation – the US is talking about an aggressive tapering against the Eurozone. The European region, on the other hand, says this is still a bit far. According to the analyst, this will be a headwind for gold in the short term. The company also believes that gold has been suppressed by some investors who prefer Bitcoin as a way to hedge against inflation.
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