After the fluctuating inflation recently, gold prices fell, while the dollar started to rise. With the fall of gold, comments and predictions came from economists. While most of the investors were buying gold against the possibility of a rise in gold at the end of the year, two world-famous banks warned the gold holders. So what was said? Will gold fall? will it rise?
In the last two years, the gold gram gold, which has been on the rise, is 1000 TL. had seen. After that, economists commented on the lowest price of the last 9 months for gold, which fell. According to the estimates of economists, many investors took action for gold, which is expected to be 2 thousand TL in December. A warning to citizens buying gold came from two world-famous banks.
WILL GOLD GO? WILL IT RISE?
While forecasts and comments continued to be made for gold, which saw the lowest price in the last 9 months, the statements of two world-famous banks especially excited the investors. New forecasts for gold prices came from Wall Street and Commerzbank analysts.
The gold price prediction made by two world-famous banks was wondered by many. 15 Wall Street analysts participated in Kitco News’ gold survey. While 40 percent of the people who participated in the survey showed an optimistic approach to the gold price, 33 percent of the participants entered a downward trend against gold. The remaining 27 percent remained neutral. While 484 votes were cast in online Main Street polls, 42 percent of this vote rate expects gold prices to rise in the coming days.
While the decline in gold prices was interpreted by economists as ‘the main factor affecting the gold price, the strong US dollar rising to the highest level in nearly 20 years’, “EFT investors are turning their backs on gold. Gold EFTs tracked by Bloomberg have recorded around 60 tons of outflows in the last two weeks alone. However, we find the current price weakness exaggerated. Persistently high inflation and recession risk are in favor of gold. This shows that the price will recover.”