Arabictrader.com – After gold fell at the beginning of last week, it rose again to around $2,430 per ounce. The price of Gold is in a bearish wave at the beginning of the week.
Experts at the German Bank pointed out that gold moved far away from its peak and temporarily fell below the level of 2,400 per ounce despite increased hopes for a cut in US interest rates in July, he could certainly describe gold as a safe haven.
Also, Commerzbank economists emphasized that gold rose slightly, and is on the way, towards a new higher level, so, demand for gold may remain against compression in the Middle East so the price will be well supported.
It should be noted that in a previously published note, the asset and risk management company TDS warned that a violent selling wave could occur in gold contracts if bullion prices try to reach the level of $2,400 per ounce. again, as spot contracts are now trading at a level of $2,394 per ounce.
2024-08-11 09:33:00
#Commerzbank #issues #forecast #gold #price #performance #Arab #Trader
