With global gold falling $ 15 an ounce since last Thursday and falling global gold price market analysts believe that coin and gold prices will not rise until the US election. This is kind of the case in all markets around the world, such as gold ounces and forex, because practically everything is tied to the US election.
The latest news about the price of the US dollar was announced on Saturday at 29,150 tomans for sale and 28,500 tomans for purchase. In the current market, gold and the dollar are strongly intertwined, and the weakening dollar has a strong effect on the gold rate.
*** The latest price of gold transactions in the Iranian market
Today, the foreign exchange market was accompanied by a decrease of 180 Tomans, which was reduced to 500 Tomans in the open market (compared to last week’s rate). These fluctuations should end in an ascending or descending direction. Therefore, the price of the dollar and gold is in a dilemma between increasing the rate and decreasing it by 50%.
*** What will be the final trend of gold price?
The main question is whether the price of gold and coins will decrease by the end of the week with a slight fluctuation in the price of the dollar? Or the process will continue uncertainly and without a destination. The secretary of the Tehran Jewelry Union believes that with the stability of the global ounce of gold, the price of gold will decrease by the end of this week. The reason for the drop in gold prices this week is also quite clear. First, a significant reduction in demand. Second, the continued stability of the global ounce price of gold and third, the devaluation of the dollar.
*** Policymakers’ response to the future of gold
Secretary of the Tehran Jewelry Union in response to the question of whether the price of gold will be cheaper by the end of this week? He said that “because of the current situation, the demand for gold products has decreased.” have given. Statistics also show that global ounce prices have not risen significantly and prices have stabilized.
*** Check the world price of gold ounce
This issue usually arrives in the Iranian market with a delay of two to three days, and this is one of the factors that has accompanied the gold market with aimless fluctuations. Therefore, the price of gold and coins is expected to decrease by the end of the week. Because small market demands must be met and prices must be adjusted to encourage a slight purchase. Therefore, our inference is that in the current situation, gold must inevitably be independent of the price of the dollar and have a somewhat declining trend, at least for the short term.
*** The effect of gold ounce fluctuations on Iranian prices
With global gold falling $ 15 an ounce since last Thursday and falling global gold prices, market analysts believe that coin and gold prices will not rise until the US election. This is kind of the case in all markets around the world, such as gold ounces and forex, because practically everything is tied to the US election.
*** Evaluate Kitco’s analysis of the future of gold
The Kitco News weekly poll also stated that the gold market has remained stable in the run-up to the US election and is virtually reluctant to move, as any move in the gold price is futile and no investment is willing to invest in these fluctuations. “Investors should not expect a significant movement in the gold market because prices are currently stable at around $ 1,900 and there is virtually no desire to go up or down in the short term,” the analysis said. Not observed.
*** Europeans’ analysis of the world price of gold
Economic analysts at the Bank of France continue to believe that the price of gold will fall in the long run, and that the appreciation of the dollar and the recovery of the US economy will further reduce the price of this precious metal. Data published on the analytical site Imperes shows that economic analysts believe that as oil prices continue to decline and inflation in the global economy, the price of gold will fall further in the coming months. If Biden is elected President of the United States, the US dollar will weaken and the price of gold will fall sharply.
*** Political risks affecting the price of gold
This issue will be more severe in the Iranian market. Therefore, the outlook for gold prices has fallen sharply, and only the re-election of Trump as president can raise gold in the world. But if we take into account the US election factor, the price of this precious metal will continue to fall until gold reaches levels above $ 1225 to $ 1240. These prices are practically the main resistance of the dollar exchange rate in the world, which can be an important point for all investors to enter or leave the gold market.
*** Russians look to the future of gold
Analysts at Russian banks believe gold will fall below $ 1,085 an ounce in the next three months. The appreciation of the dollar will improve the US economy and the possible decision of the Federal Reserve to raise interest rates will be a factor in the possible decline in gold prices in the coming months.
*** Future uncertainties of gold prices
The meeting of the European Central Bank and the report of the US Department of Labor will clarify the trend of gold prices in the coming days. Therefore, we have to wait for the data of these two sections to reach the analysts in the form of puzzles.
Artan Press
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