Goldman Sachs stands by: gold price rises below $1750, a new one month high

category:Finance
 Goldman Sachs stands by: gold price rises below $1750, a new one month high


In the view of the insiders, it is still the epidemic development trend that plays a leading role in the strengthening of gold price. With the outbreak of the two major economies of the United States and China repeated, the whole financial market is filled with a strong atmosphere of caution. Some retail investors began to sell U.S. stocks at high prices, and increased their positions in relatively low valuation gold. Otunga said how long the gold price rally can go is still affected by the fluctuation of the US dollar exchange rate. If the dollar continues to rebound, it may limit investors interest in gold. As of 9:30 on the 22nd, the US dollar index hovered around 97.62, slightly rebounding from 95.71, the lowest since late March, a week ago. However, there are widespread concerns that the Feds continued monetary easing policy will still force the US dollar to lower, bringing new upward momentum to the gold price. Source: responsible editor of 21st century economic report: Yang Bin_ NF4368

In the view of the insiders, it is still the epidemic development trend that plays a leading role in the strengthening of gold price. With the outbreak of the two major economies of the United States and China repeated, the whole financial market is filled with a strong atmosphere of caution. Some retail investors began to sell U.S. stocks at high prices, and increased their positions in relatively low valuation gold.

Otunga said how long the gold price rally can go is still affected by the fluctuation of the US dollar exchange rate. If the dollar continues to rebound, it may limit investors interest in gold.