Gold increases, expected to increase 1900 USD?
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Gold continues to rise today as the market received positive news from the PPI. Currently, gold is trading at a high level since the beginning of the week and reaching a trading level of 1877 USD.
Regarding prospects: The IGCS index indicates that about 83% of retail traders have a long position on gold. This suggests that prices may continue to decline in the near future. However, the betting ratio on the downside has increased compared to yesterday and last week, with ratios of 18.59% and 26.67% respectively. Considering this, recent changes in exposure levels indicate that prices may soon start to rise again.
Regarding prospects: The IGCS index indicates that about 83% of retail traders have a long position on gold. This suggests that prices may continue to decline in the near future. However, the betting ratio on the downside has increased compared to yesterday and last week, with ratios of 18.59% and 26.67% respectively. Considering this, recent changes in exposure levels indicate that prices may soon start to rise again.
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With recent developments, it is likely that the Fed will temporarily suspend interest rates. This in the short term will cause the dollar to cool down, thereby pulling the price of gold up.In terms of medium and long term, the Fed may reverse the monetary policy. The dollar will fall even faster. Gold may increase thanks to the increasing gold demand of countries.
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