Weakness in the dollar provided a strong tailwind for gold yesterday, but bearish market sentiment neutralized any price gains, according to experts. The net result was only a minor drop in gold futures, spot and Forex. However, spot gold is currently up to $1,813 amid factors such as the expectation of US nonfarm payrolls data. Meanwhile, research writer Ece Ergönenç thinks that the dollar and gold will continue to rise. cryptocoin.com We convey the details as…
Ece Ergönenç: New systems will be installed
While gold rose slightly over the past day, research writer Ece Ergönenç made a long-term forecast. According to Ergönenç, who looks at the general situation on a global scale, situations such as the decrease in production and consumption and the printing of money all over the world will increase the dollar and gold. According to the expert, who said that people will start to see this fact after March, new systems will be installed after the existing systems collapse. Implying that a digital system has been established, Ergönenç thinks that this should not be feared, that people can sculpt it according to themselves.
According to Ergönenç, who expressed his thoughts that the resources will be zeroed in the long run, it is therefore necessary to invest in soil. Although he thinks that gold and dollar will rise in the future, he says that “it will increase so much that we can see periods when it cannot be used and swap periods will begin.” He ends his comments with the words “We have to reduce the consumption frenzy and wait”.
Latest situation in gold prices
On a gold futures basis, the most active April contract is currently pegged at $1,811, with today’s gains of $7, or 0.43%. At the same time, the dollar is down 0.58 percent, pushing DXY to 95.37. In general, US non-farm payrolls data are expected, which will be released today at 4:30 p.m. Turkish time. Expectations are for an increase of 150,000 in January. According to experts, only if the figure is well below or much higher than this expectation, the price of the precious metal may change. Finally, gram gold changes hands at 790 liras.
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