Positive prospects for US-Russia talks calmed the markets somewhat, with gold prices closing the week slightly below the key $1,900 level. However, the tension around Ukraine has not subsided yet and the US insists that Russia will launch an invasion. Market expert Jordan Roy-Byrne says gold needs a weekly and monthly close above $1,900 for an exit. Economist Cem Özüak, on the other hand, draws attention to the tensions in Ukraine and predicts that gold prices will rise to $ 2,000 in the event of an invasion. Experts’ opinions and predictions cryptocoin.com compiled for our readers.
3 indicators to confirm a new bull run below
With the escalation of the Ukrainian tension, gold prices came to the level of $ 1,900, leaving the limits of $ 1,800, which has been around for a long time. Jordan Roy-Byrne states that gold needs a close above $1,900 on a weekly and monthly basis for a breakout and makes the following statement:
A breakout is when a market surpasses a critical resistance level and begins to step higher. Breaking is the beginning of the movement. We highlight 3 indicators that will confirm a break in gold, a new bull run in gold prices and gold stocks. These are gold against foreign currencies, gold against the stock market, and the VanEck Gold Miners ETF advance/downline.
According to Cem Özüak, gram gold prices may increase by 25%
Commenting on the developments in the markets in a Youtube program he participated in, Economist Cem Özüak claims that Russia’s entry into Ukraine will be a salvation for the US economy. According to the economist, the USA does not want to increase the interest rate, and the only way out of this situation is Russia’s attack on Ukraine and the increase in the dollar in the world. Cem Özüak says that in this way, the USA can raise the dollar without increasing interest rates, that if they raise interest rates, unemployment will increase and the USA does not want this. The economist evaluates the impact of the Ukrainian tension on gold prices as follows:
It will also serve under the Russia-Ukraine tension. Ounce gold prices are stuck between 1,800 and 1,900. If Russia enters Ukraine, it will be over $2,000.
Cem Özüak states that in case of occupation, the dollar will increase and the price of gram gold will increase. Since ounce gold is priced in dollars, it means that if both dollar and ounce of gold increase, there will be a compound increase in gram gold prices. Based on this, the economist estimates that gram gold will gain up to 25% in value in case of war.
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