Gold Price needs to close above 21-DMA at $1,935 to gain further

Gold Price Forecast

Will Gold price close the week at $1,935?

A week ago, the price of gold was at $1,894.56 USD per ounce. The last week’s open and high was recorded at $1,942.60 USD and the week’s low for gold prices was at $1,864.50 USD. With a closing price of $1,935 for the year so far, what can we expect for this upcoming Friday?

What will happen with Gold Prices is anybody’s guess but our experts are certain that it would not drop below 1,900 in value due to Brexit because it is considered to be a safe haven asset in times of economic uncertainty.

How has the Brexit vote affected Gold price?

Gold Prices have been climbing high since the Brexit vote and Prime Banks in London are concerned about losing members from the European Union. It is considered to be a safe haven asset as it transfers an investor’s cash at no risk, while finding value as well as a hedge against inflation.

Gold prices could also benefit from higher stock markets because they go hand in hand, putting money into mutual funds that invest in stocks. The expectation of higher stocks will also increase demand for gold and stocks in general, which would result in gold prices increasing further or staying at current levels. Today’s trading session should prove to be an interesting one for Gold traders and investors.

Who will benefit from Brexit?

Gold Prices were on a steady climb last week no matter what Brexit did for the UK. EU officials are expected to give the new and old members of the European Union a realistic plan of what is going to happen in the case that Britain leaves the Union.

The first thing that will happen after Britain is out of the EU would be that there would not be no more free access to labor, which could create labor shortages in some parts of Europe. The only way for EU countries to get rid of this issue is by increasing unemployment rates across the continent, which is not an option right now due to economic uncertainty.

Who will benefit from gold price?

Gold Prices are still a safe haven asset. It is a perfect investment option in times of economic uncertainty because it transfers money to investors at no risk, while providing value and a hedge against inflation. Gold is considered to be more valuable than fiat, like the US dollar and other fiat currencies

What indicators are helpful in predicting gold price?

The trading volume, the strength of the underlying fundamentals, historical performance as well as technical indicators are all useful when it comes to predicting gold price. Investors will want to look at Gold Prices on the basis of five year performance as well as historical performance to determine if they should invest or not.

What is current market price of Gold?

Gold Prices are up over 6% since the beginning of the year, but it might be best to wait for a correction before you invest in these precious metals, as they will not perform well when interest rates increase. How high will the gold price go in 2016?

Gold Prices are expected to remain stretched in the near term and while they could rise as a result of Brexit, they will not be able to breach the $2,000 mark. It is possible that gold could drop below $1,900 but that depends on what happens with Brexit and how much confidence investors start losing in the European Union.

What do experts say about the Gold price forecast?

The Gold Prices volatility remained high and investors should not invest in the precious metal until it settles down. The gold price forecast for this month is considered to be moderately bearish.

There are several top gold stocks and for those interested in short term trading, purchasing the stocks of major mining corporations is suggested because they will continue to move up in value due to Brexit, but for those who want long term gains, purchasing the stocks of smaller companies could be a better idea.

How do investors trade Gold?

Gold is a popular investment option among investors as it is considered to be a safe haven asset. Investors looking to trade Gold would find it better to purchase futures contracts and options which require less risk.

The current gold price continues to be on the rise and it is expected that it will continue to climb in value in the near future. This week, Gold Prices ranged between 1,889.10 USD and 1,929.30 USD per ounce. Trading volume and other indicators are being taken into consideration when determining whether or not you should invest in this precious metal. Gold traders have been keeping close watch on the developments in Great Britain following the Brexit vote, as well as analysts who predict that gold prices could drop below 1,900 in value after several months of steady climb.

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