Choose Donald trump for President of the United States fluctuated commodity prices, but only for a moment. About the multiple disorder of certain trends of the market, of course, could speak with investors in the gold market that quotes relies heavily on the value of the U.S. dollar.
According to Paul Grubiaka, investment consultant at Superfund TFI, last Wednesday, after a violent rise in gold prices, gold prices began to quickly return to its inheritance. The value of this metal on Thursday and Friday, much zniżkowała, while the movement is observed during the session Monday. As a result, the price of gold fell to the vicinity of 1220-1230 an ounce. From a local peak of the price with powyborczej session that is environs 1337 dollars per ounce, gold prices have already dropped, so by about 9 percent.
the Analyst adds that if not for Wednesday’s session, the situation on the chart of gold would be even more clear: the gold price reached the surroundings 1300-1305 dollars per ounce, an important technical resistance level – and that in itself led to the beginning of the downward movement. The fact that on Wednesday gold prices quickly moved back below this barrier, testified about the power side podażowej about the possibility of a speedy return for discounts.
Pressure to decrease, which appeared soon after the presidential elections in the United States, translated and expected high inflation in the United States after the Donald trump spending on infrastructure. Invariably a key theme contributing to the strengthening of the us dollar, is also expected to raise U.S. interest rates, which is likely to take place in December.
on Tuesday the price of gold bounces up slightly. It is beneficial to characterize because around 1215-1220 dollars per ounce currently, the nearest support level. An additional factor affecting stop discounts, as well as the growth in demand for gold in physical form (coins, bars), which obviously raised by the dynamic fall in gold prices in recent days. Currently, this is the factor that, at least in the short term can help customers.
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