XAUUSD : Gold will bounce back strongly
XAU/USD is moving sideways and trading around 2,322 USD/ounce.
According to senior market analyst Jim Wyckoff of Kitco Metals, gold prices fluctuate when influenced by external factors due to a lack of important new fundamental news. In this context, Wyckoff predicts, prices will likely move sideways
about 2,300 - 2,400 USD/ounce for the next important catalyst and he believes that these catalysts will not appear until July.
World gold prices weakened in the context of some US Federal Reserve (Fed) officials predicting interest rate cuts in December this year. This causes US government bond interest rates to increase to nearly 4.3%, causing disadvantages for gold - a non-yielding asset.
According to senior market analyst Jim Wyckoff of Kitco Metals, gold prices fluctuate when influenced by external factors due to a lack of important new fundamental news. In this context, Wyckoff predicts, prices will likely move sideways
about 2,300 - 2,400 USD/ounce for the next important catalyst and he believes that these catalysts will not appear until July.
World gold prices weakened in the context of some US Federal Reserve (Fed) officials predicting interest rate cuts in December this year. This causes US government bond interest rates to increase to nearly 4.3%, causing disadvantages for gold - a non-yielding asset.
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