Post by account_disabled on Jan 1, 2024 22:44:21 GMT -8
Even though gold prices dropped from disappointment Both the US Federal Reserve issued a statement that it is not in a hurry to cut interest rates further and the non-farm numbers came out well, but GMI Edge's view still cites gold as an attractive investment asset. This year And there is still a chance to adjust to an upward trend in the long term. Short-term investment range is $1,380-1,450. Mr. Napawee Pukkaman, Regional Executive of GMI Edge, one of the companies from the group of investment institutions from England. Evaluate later The US Federal Reserve or the Fed has cut the policy interest rate by 0.25%, as the market had previously expected. This is the first interest rate cut in 11 years since December 16, 2008.
However, the investment market has responded Country Email List negatively. Both the US stock market index and the gold price This is because the Fed chairman has indicated that no further rate cuts are guaranteed at the next meeting. Moreover, the Fed has decided to end the reduction of its balance sheet. Two months earlier than originally scheduled, by suspending the reduction in holdings of bonds that the Fed purchased under quantitative easing (QE) several years ago. make it short Commodity prices like gold will come under negative pressure. The announcement of good Non-Farm Payroll numbers resulted in the US currency strengthening. and affecting the price of gold to decrease However, in the medium to long term, gold is still an interesting asset to invest in.
“Technically, the price of gold can still stand above $1,370, which is the highest point in 5 years, gold is still attractive as an investment. Because it is a sideways break that has lasted more than 5 years if the price doesn't drop lower than this. There is still a chance to see a big uptrend in gold again." Regarding fundamental factors, there are statistics from The World Gold Council that central banks of various countries around the world have continuously accumulated gold. In 2018, they accumulated more than 651.5 percent of gold. tonnes increased 74% from 2017, along with analysis from world-class hedge fund managers like Ray Dalio, who spoke about gold as one of the interesting assets to invest in in the next global economic cycle. There are also other risk factors such as the case of Brexit, where the new British Prime Minister has a rather harsh policy regarding this matter.
However, the investment market has responded Country Email List negatively. Both the US stock market index and the gold price This is because the Fed chairman has indicated that no further rate cuts are guaranteed at the next meeting. Moreover, the Fed has decided to end the reduction of its balance sheet. Two months earlier than originally scheduled, by suspending the reduction in holdings of bonds that the Fed purchased under quantitative easing (QE) several years ago. make it short Commodity prices like gold will come under negative pressure. The announcement of good Non-Farm Payroll numbers resulted in the US currency strengthening. and affecting the price of gold to decrease However, in the medium to long term, gold is still an interesting asset to invest in.
“Technically, the price of gold can still stand above $1,370, which is the highest point in 5 years, gold is still attractive as an investment. Because it is a sideways break that has lasted more than 5 years if the price doesn't drop lower than this. There is still a chance to see a big uptrend in gold again." Regarding fundamental factors, there are statistics from The World Gold Council that central banks of various countries around the world have continuously accumulated gold. In 2018, they accumulated more than 651.5 percent of gold. tonnes increased 74% from 2017, along with analysis from world-class hedge fund managers like Ray Dalio, who spoke about gold as one of the interesting assets to invest in in the next global economic cycle. There are also other risk factors such as the case of Brexit, where the new British Prime Minister has a rather harsh policy regarding this matter.