Many experts on gold and general markets share their comments. In this article, we will share the gold comments of Blue Line Futures strategist Phil Streible and expert Ramazan Kurtoğlu. Here are the details…
Streible announced market expectations
Blue Line Futures Chief Market Strategist Phil Streible talked about what will happen if the Fed continues to raise rates and tighten monetary policy. According to Streible, US stocks will then fall to new lows. Although Streible thinks US stocks will see a minor recovery, if energy prices remain high and inflation does not improve; states that the lowest levels may come.
Stocks have performed poorly this year, with the S&P falling 12 percent year-on-year, despite a 7 percent rally last month. cryptocoin.com As we have reported, market participants are waiting for Fed Chairman Jerome Powell’s speech at the Jackson Hole Symposium on Friday. Powell’s speech will be taken as an indication of how the Fed views monetary policy going forward.
Streible said it will monitor whether Powell signals hawkishness using keywords like “cautious” or “data addiction.” But if the Fed Chairman says “we’re watching the economy”, Powell’s tone might be “a little dove”, according to the expert. According to the expert, this is something that could accelerate the prices of risk assets.
Blue Line Strategist sets date for gold
Gold is currently at $1,770. He apparently did not react to the anticipation of Powell’s Jackson Hole speech. “$1,800 is definitely a critical level,” Streible said, and used the following statements:
My year-end target is $1,950, but that’s based on a lot of different things like the Fed’s movements… I’d say I have some cheap call-options on the upside.
Gold responds to negative real interest rates, or nominal rates minus inflation. If inflation rises significantly, the price of gold could rise even higher. “Pockets of inflation are slowing,” said Streible, citing food, housing and vehicle data. He said he was a little afraid of the energy side of inflation. He mentioned that Goldman Sachs has a crude oil price target of $130 at the end of the year. He thinks that this energy aspect will continue to appear as a component of inflation.
Ramazan Kurtoğlu: Don’t mind short-term movements in prices
On the other hand, Istanbul Aydın University Faculty Member Ramazan Kurtoğlu says that gold investors should be patient. He thinks that investors should wait for 2023. In his latest statement on social media, he said, “Don’t mind the short-term fluctuations in gold prices. The investment is one year or more. Investing and trading are two different things. 2023/2030 is the golden age of gold,” he said.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.