Gold price sits at $1,753 at the time of writing and appears to be in a downtrend. Important predictions came from famous analysts. Analysts determined the levels that gold will see in December and 2022. cryptocoin.com We have compiled the details for you, let’s examine the forecasts together…
ABN Amro analysts share gold’s December and 2022 levels
ABN Amro analysts made an important forecast for gold. Analysts expect $1,700 by the end of this year and $1,500 by the end of 2022. The reasons why analysts expect a decrease in the price of gold are as follows:
- We have tighter global monetary policies ahead of us: Tighter monetary policy is generally negative for gold prices because yields on government bonds tend to rise.
- 2-year UST real returns will increase: There are two dynamics at play here. First, we expect 2-year US Treasury yields to rise slightly more than markets currently expect. In addition, we think that inflationary pressures will ease. This results in higher 2-year US real returns and will weigh on gold prices going forward.
- USD will rise further in the future: This will likely be a modest increase. A higher US dollar is generally negative for gold prices.
Economies analysts: Gold price sits negative
Economies analysts also shared their forecasts for gold prices. Here are the levels analysts expect and their comments:
For the price of gold, the levels witnessed in the previous sessions and the bearish trend scenario for the coming period apply. We’re looking at $1,735 as the first negative station. Therefore, we expect additional bearish levels on an intraday basis. We note that a break of the $1,770 and then $1,780 levels will stop the suggested downside scenario and lead the price higher. The expected trading range for today is between $1,735 and $1,770.
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