All the indicators from the financial market point towards increasing Gold prices. The expectations are that the market will be bulling pending Janet Yellen’s (the Federal Reserve Chair) speech. The fact that the consumer data from US is still poor has added to the speculation of the prices of Gold going high once more.
As per the trade analysts, the investors are bound to hold on to their Gold investments because of the uncertainties that surround the financial markets as of now. The ripples of the Brexit effect are still being felt across the market as the trade pundits say that although Britain has opted out of the European Union, but the real effect will come to the fore when it is determined when Britain is leaving the union finally.
The odds are hugely in the favor of a rate hike for the Gold and the announcement to that effect has been predicted as a possibility to be announced as early as sometime early next month.
Also, now the big buying season of Gold is on the horizon for countries like India and China and market analysts are banking on the expected high demands to drive the prices of Gold high and be bullish again. The market is hoping to surge full steam ahead on the demands generated in the Indian and the Chinese markets.
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