Senior market analyst Jim Wyckoff shared his new forecast for the price of gold. The well-known analyst thinks that the price of gold can reach $ 2,000. cryptocoin.com We are giving the details as…
Jim Wyckoff shares his $2,000 forecast for gold price
In a recent interview, renowned analyst Jim Wyckoff said he thinks gold prices could reach $2,000 an ounce this year, noting all indications that inflation continues to be problematic, the US dollar index stabilizing and crude oil prices remain high. Wyckoff explained that the reason for the divergence between gold and inflation last year was that it was perceived by the market as an event that would not be permanent.
However, noting that the situation is not temporary, the analyst says, “Future inflation reports will be watched by gold traders and if they continue to be high, this will support the upward gold price movements.” Gold has experienced a huge rise in the last two months. Wyckoff predicts that gold’s trajectory will continue to rise this year. The analyst, who thinks that gold can see $ 2,000 at its peak this year, uses the following expressions while talking about the next levels that should be broken:
There may be a bull run this year. I predict gold will have a good year in 2022 and this is starting to be the case. I believe this trend will continue. The next upside target for the gold market is $1,850 per ounce. We’ve already hit November highs around $1,890. If these levels are broken, it will give the bulls more momentum to push prices higher.
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