Gold is back! Precious Metal Set For The Biggest Gain Since June
After going under 1200$ for the first time in a long time, the precious metal is set for a massive rise. Market instability and lack of consumer confidence had kept it quite low. However, new indications about the Fed’s future moves have sent its price soaring. Gold’s unique characteristic is its use as a hedge against the dollar. However, the price is listed in Dollars, so predicting its movements is quite hard. CS Capital analysts predicted a strong year for the metal. This is because of usual market psychology. Traders flock to it when the Dollar seems to be in trouble. As we’ve mentioned before, the currency is indeed due for a bumpy year. It makes perfect sense then, that the metal will once again be enjoying very high prices.
Gold spot is trading at 1211.29, up +1.32% or 1595-pips on the day