XAUUSD _ Gold tends to test the 1900 zone
Updated
"I have an optimistic view on gold because I believe that the Fed will shift policy away from the current restrictive state before achieving the 2% inflation target," Mr. Melek added.
In the most recent transaction, the world gold price was at 1,912.26 USD/ounce.
From March 2022, the Fed will begin raising interest rates as inflation escalates to its highest level in 40 years. In less than two years, borrowing costs ranged from 5.25 - 5.5%/year.
According to Melek, gold has outperformed other assets over the past 12 months, given its immunity to rising interest rates and its value as a safe bet against inflation.
In the most recent transaction, the world gold price was at 1,912.26 USD/ounce.
From March 2022, the Fed will begin raising interest rates as inflation escalates to its highest level in 40 years. In less than two years, borrowing costs ranged from 5.25 - 5.5%/year.
According to Melek, gold has outperformed other assets over the past 12 months, given its immunity to rising interest rates and its value as a safe bet against inflation.
Note
Most likely gold will break 1900
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