2018 Looking To Be A Good Year To Buy Gold
According to reports, 2018 is shaping up to be the perfect year to buy gold. Commodity strategists foresee lower prices by December of 2018.
Reports from Vivek Dhar, a commodity strategist from the Commonwealth Bank Austraila, are saying that gold will be low. He says currently, gold is neutral. However, most buyers will feel comfortable buying the precious metal when it drops to $1,250 or less.
Dhar goes on to say that gold leveling out at $1,250 is a great possibility.
As 2017 get’s ready to come to an end, investors should keep an eye on the market as things at the Federal Reserve change. One of those changes is Governor Jerome Powell becoming Head of the U.S. central bank and how it could affect gold prices.
2018 Will Be A Good Year To Buy Gold Says Analaysts
Something else to pay attention to is Trump’s tax reform, and it’s outcome. If the reform pulls through, it will positively affect the U.S. dollar. Be that as it may, a strong dollar is not good news for gold.
2018 may also bring about global political tensions. As of now, tensions have died down a bit.
As tensions rose between U.S. President Donald Trump and North Korea, so did the price of gold. It was well over $1,300 at times.
Global political risks can boost safe-haven demands. However, the effects of the risks tend only to be temporary. It all depends on if a country follows through with their threats.
The risk of anything happening between the U.S. and North Korea have leveled out. Either that or the market has become accustomed to the issue. What normally happens when there is a risk event, is that prices become locked it, and the risk is over. With North Korea not saying too much, tension has subsided. At first, conversations on possible threats affected the price of gold, but the market has turned its eye.