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Expert's opinion from FXFinPro

Gold continues to decline

The price of gold continues to decline within a downtrend due to the negative impact of the expected tightening of monetary policy in the United States. Thus, raising interest rates will lead to a further strengthening of the US dollar and reduction of attractiveness of investing in gold compared with those assets that generate interest income. It should be noted that this scenario is partly taken into account in pricing. On the other hand the demand for gold coins in the United States has grown substantially in October amid falling gold prices and demand in China continues to rise due to increased consumption of jewelry during the festive season, which will last until the Chinese New Year, which is celebrated on February 8. In the near future the price may continue falling to levels 1040-1050 dollars per troy ounce.

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Wednesday, 02 Dec, 2015 / 2:24

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