An ounce of gold, which has been mobilized by the effect of the Fed minutes announced last week, has reached up to $ 1,809 at the time of writing. So, what levels might be next? cryptocoin.com We are citing the comments of the analysts of the famous financial company TD Securities…
TD Securities explained what to expect for gold price
TD Securities analysts believe that despite the Fed’s tough monetary policy outlook for 2022, the gold price could still move up. Experts pointed out that gold exhibited a mixed and highly volatile performance in 2021, based on the movements of the precious metal throughout the past year; He highlights that it rose to levels just under $1,960 in the early days of 2021, then dropped to $1,677 at the end of the summer. Talking about the rally in November and finally the fall in December, analysts think that “inflation expectations, nominal rates and real interest rate trends driven by Fed policy” are behind this fluctuation.
According to analysts, these situations and the pricing of the Fed rate hike by the gold market players in early March caused open positions to swell, keeping prices around $1,790. Experts think that even though the Fed is on the way to increase interest rates, it will implement an expansionary monetary policy and central banks will continue to buy gold. As investors diversify their portfolios to hedge their risks, analysts believe that the short-term positions of gold speculators show that the yellow metal can pull the yellow metal to $1,850 in the first months of 2022. However, it is expected to trade at mid-$1,600 in the second half of 2022 as negative real rates protect gold from a complete rout.
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