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Main » 2016 » July » 13 » Forex. The forecast for today 07/13/2016: Gold - correction!
Forex. The forecast for today 07/13/2016: Gold - correction!



Gold prices again were the correct direction. This is easily explained: after the update two-year highs at $ 1377.50 per troy ounce, investors found no reason to continue the rally, while the market has started to lose interest in safe assets. In all likelihood, this is a temporary phenomenon, but for gold - a characteristic moment: after rapid growth with significant peaks update is rolled back. By Wednesday, 13 July, troy ounce of the precious metal is worth $ 1338.90. Prices may well fall back to $ 1318 / troy ounce, where able to take the start of a new wave of purchases.



While continuing rally in global equity markets, with the capture of new highs, gold demand will remain limited.According to the supply and demand in the market of futures contracts is now 72% of all positions in gold discovered in buy format. For comparison - the previous week, the figure was 100%. On the silver at the moment the situation is more stable, there continue to buy 96% of investors.

US stock indexes on the eve of renewed peaks - and for Dow Jones, and S & P 500. Buyers' activity shows that investors are now more focused on the moment than on the prospects for and the moment looks pretty positive.Risks fade into the background, at least until mid-day on Thursday, and "bulls" in risky assets almost crushed "bears."

Thus, until the market is prone to melancholy and changes forecast for the medium and long term. This natural way is reflected in the gold price correction and allows to develop further. The goal of reducing the indicated above - $ 1318, but in the case of conservation rally in core assets, and gold can prosest to $ 1,300.




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