gold forecast , Buyers May Be Seeking Protection Against Stock Market Correction

gold forecast , Buyers May Be Seeking Protection Against Stock Market Correction

gold forecast , Buyers May Be Seeking Protection Against Stock Market Correction

 
gold forecast futures are trading higher shortly after the cash market opening on Thursday. The market has been the strongest performer during the present holiday shortened week. a mixture of technical and fundamental factors are behind this week’s rally along side the extremely thin trading volume

Some traders are skeptical about the move due to the sunshine volume, but recent data from the govt shows that hedge funds are accumulating gold futures contracts for a minimum of a month, which is proven by the bullish rectangular chart pattern

At 13:15 GMT, February Comex gold is trading $1510.40, up $5.60 or +0.37%

Trade Deal Worries
gold forecast Although it’s not being reflected within the traditional safe-haven markets like Treasurys and therefore the Japanese Yen, there are some worries over the trade deal that would be sending investors into gold for cover

Lingering uncertainties about the trade deal agreed by the us and China are boosting the appeal of safe-haven bullion

“We haven’t heard anything concrete as far because the trade talk cares between the U.S. and China… Nothing has been done yet, just tons of talks and no action really,” said Afshin Nabavi, senior vice chairman at precious metals trader MKS SA

“gold forecast The major focus is when and where and which terms are going to be included within the trade agreement,” said Jigar Trivedi, a commodities analyst at Anand Rathi Shares & Stock Brokers in Mumbai

However, gains are likely being limited by traders who believe the trade agreement may be a done deal. U.S. President Donald Trump said on Saturday that Washington and Beijing would “very shortly” sign their so-called Phase One trade pact

Trump also said on Tuesday there'll be a signing ceremony with the Chinese President Xi Jinping for the primary phase of the agreement. Beijing confirmed the news by saying they were in close touch with Washington for the signing

Another Threat from North Korea
gold forecast A report that North Korea’s leader Kim Jong Un held a gathering of top military officials to debate boosting the country’s military strength also supported gold

However, Christmas came and went with no sign of the “gift” that North Korea warned could come. Earlier this month, Pyongyang set a year-end deadline for the U.S. to form new concession in talks over the country’s nuclear arsenal

Daily Forecast
gold forecast may be a hard read in the week due to the sunshine volume. Are hedge funds just “painting the tape” to encourage speculators to chase the market higher, or is that the move being fueled by real buyers, hoping and overbought stock exchange corrects with a steep break