Items such as the increase in global inflation concerns offer a long-term forecast for gold forecasts. However, experts seem to hesitate to make short-term forecasts now. So, what are the long and medium-term forecasts? cryptocoin.com We are giving the details as…
Gold predictions came from 3 analysts
Atlanta Fed President Raphael Bostic thinks that the rate hike expected by the US Federal Reserve (FED) in March can be made by 50 percentage points if inflation continues to rise. The expected general increase level for rate hike was 25 basis points. Commenting again on the Fed’s rate hike, RJO Futures senior market strategist Bob Haberkorn thinks that the rise of the dollar and the inactivity of other banks put pressure on gold prices.
On the other hand, Oanda Senior Market Analyst Edward Moya said that while he thought that the interest rate change could negatively affect gold, he expected the increase in inflation to continue. “The medium and long-term outlook for gold points to an upward trend,” he said, while conveying his forecasts for the precious metal. However, he thinks that prices may be suppressed in the short term due to the Fed’s appearance of tightening and tightening the monetary policy.
What are the expectations for gram gold?
Gold and Money Markets Specialist Mehmet Ali Yıldırımtürk conveyed his expectations for gram gold. He thinks that the Fed’s signal that it will start to increase interest rates and the geopolitical tension between Russia and Ukraine are among the items that may affect the market in general. According to the expert, who states the importance of the Fed’s rate hike by how many percent, if inflation gets too high to be prevented, gold may be affected positively. Thanks to this positive effect, he predicts that the precious metal can rise to the levels of 850-875 liras.
Stating that the 800 lira level, which is important to see these levels, however, must be exceeded, Yıldırımtürk thinks that if the inflation measures in the USA are tougher, the price may be stuck at 800 lira levels. Finally, he says that gold investors should think about the long and medium term rather than the short term. Gram gold is changing hands at $788.43 at the time of writing, marking an increase of 0.08 percent.
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