Gold price forecast 14/7

已更新

Mr. Yeap Jun Rong, strategist at IG Bank, said that confidence in gold has been restored. Gold price is always sensitive to US interest rate adjustments. A falling dollar makes gold attractive to holders of other currencies.

According to the World Gold Council (WGC), gold is likely to be supported in the second half of the year amid a weak USD and stable bond yields. A deep recession will boost gold's value but a "soft landing" could challenge the precious metal.

Gold rose to a 3-week high as investors looked at data on US inflation - an important factor affecting the decision of the US Federal Reserve (Fed) on the country's monetary policy. This.

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In the medium and long term, gold is supported by the fact that the Fed is approaching the end of its monetary policy easing cycle.

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Some analysts say the US is likely to have a perfect "soft landing" as the world's largest economy avoids a recession due to the latest lower-than-expected inflation data. US CPI data raised hopes that the US Federal Reserve (FED) will be able to stop raising interest rates.

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World gold price continued to increase to 1,960.8 USD/ounce, up 4 USD compared to yesterday - recording the highest level in more than 1 month. Similarly, precious metals are priced at 56.3 million VND/tael (excluding taxes and fees). Currently, each tael of SJC gold is still 11 million dong higher than international gold.

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The US Department of Labor has just released a report showing that the consumer price index (CPI) in this country in June increased slightly - 0.2% compared to the previous month and increased 3% compared to the same period last year. The lowest increase since March 2021.

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World gold prices hovered near a 1-month high on Thursday. Because the pure US inflation report makes the market think that the US Federal Reserve (Fed) may be close to finishing raising interest rates.

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The US is likely to make a perfect "soft landing" as the world's largest economy avoids a recession as the latest inflation data is lower than expected, said deVere Group analyst Nigel Green. . US CPI data raises hopes that the Fed will be able to reduce inflation without pushing the economy into recession.

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Since mid-2022, offset intermediaries around the world have been buying gold at historic prices, in part to diversify their reserves, while trying to steer clear of the dollar. While the BRICS move is expected to be significantly supportive for gold, some analysts say it will take a long time for the market to feel its impact.

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According to the World Gold Council (WGC), gold is likely to be supported in the second half of the year amid a weak dollar and stable bond yields. A deep recession will boost gold's value, but a "soft landing" could challenge the precious metal.

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Although the move by the BRICS is expected to significantly support gold, some analysts say it will take a long time for the market to feel its impact.

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According to Kitco, the gold market drifted as if required to remain neutral as investors focused on observing the monetary policy direction of central banks around the world.

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As the data shows, the bull fight is being won, meaning the pressure on future Fed rate hikes has eased.

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Forecasting the gold price trend, experts say that gold is operating in a favorable environment. Besides easing pressure, demand from central banks and de-dollarization trend are taking place globally.

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Data on Thursday, July 13 showed US producer prices barely rising in June, providing further evidence that the economy has entered a deflationary phase.

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The market has reduced expectations for a second bull run. Along with this correction, gold prices have recovered," Commerzbank wrote in a report.

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The gold market did not have much reaction to the published numbers as some investors decided to take profits after this breakout.

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The yield on the 10-year US Treasury bond has decreased from its highest level in over 4 months. The DXY index (measuring the fluctuations of the US dollar against 6 major currencies) has dropped to the level of 102.27. The weakening of the USD makes gold more attractive for those holding other currencies.