XAUUSD _ Gold tends to test the 1900 zone
"I have an optimistic view on gold because I believe that the Fed will shift policy away from the current restrictive state before achieving the 2% inflation target," Mr. Melek added.
In the most recent transaction, the world gold price was at 1,912.26 USD/ounce.
From March 2022, the Fed will begin raising interest rates as inflation escalates to its highest level in 40 years. In less than two years, borrowing costs ranged from 5.25 - 5.5%/year.
According to Melek, gold has outperformed other assets over the past 12 months, given its immunity to rising interest rates and its value as a safe bet against inflation.
In the most recent transaction, the world gold price was at 1,912.26 USD/ounce.
From March 2022, the Fed will begin raising interest rates as inflation escalates to its highest level in 40 years. In less than two years, borrowing costs ranged from 5.25 - 5.5%/year.
According to Melek, gold has outperformed other assets over the past 12 months, given its immunity to rising interest rates and its value as a safe bet against inflation.
Note
Most likely gold will break 1900
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.