“The Scary Wave” Fitch Awaits These Lows In Gold Price!

The US-based rating agency Fitch Ratings has released its latest report, which includes gold prices and mining price forecasts. According to the report, the organization expects a long-term decline in the gold price. cryptocoin.com We have compiled the details for you…

Report from Fitch Ratings upsetting gold investors

Fitch Ratings Agency talked about precious metals in its recent report. The rising gold forecasts in the report; It says it reflects increased demand due to better economic recovery and its “safe haven” investment status, although the recovery has been moderate since the outbreak hit. However, he thinks the price will rebase at $1,300 in the long term.

According to experts, the longer the period in question, the lower the price assumptions. Therefore, many variables that need to be taken into account over time also come into play. For example, a resurgence in case numbers will be a reason to revise these asset estimates. Although the rating agency slightly lowered its forecasts for other precious metals in its report, expectations for gold seem to have dropped the most.

Meanwhile, it is worth noting that the ounce price of gold, which has performed well in the past weeks by approaching $1,900, has fallen sharply since the beginning of the week. The precious metal is changing hands at around $1,791 today, as it hit $1,866 on Wednesday last week. Gram gold, on the other hand, continues to break the record, rising to 727 liras.

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