The growth of gold may continue
The price of gold in recent days is showing a steady growth on the background of reducing the likelihood of the Fed raising interest rates in June and July, as well as increasing interest of investors in defensive assets. It is worth noting that US indexes came close to historic highs, and because of the absence of drivers for further growth, reducing corporate profits and weak macroeconomic data, there is a high probability of falling of the US stock market, which will lead to the continuation of rising gold prices, as a defensive asset. In this case, the closest target level will be 1300 per troy ounce, but in the medium term, we expect a drop in prices in anticipation of the Fed raising interest rates in the autumn.
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