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World: gold price in view: What speaks in August for Gold

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After its significant burglary in June, the gold price has come back now. And the prospects for the yellow precious metal are loud Stanko Iliev, Financial Analyst at Invey, also good for August.

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• Fed wants to stay with looser monetary policy

• Analyst Stanko Iliev is bullish for Gold

• Delta variant could help gold

in June the gold price fell temporarily from over 1,900 Dollars at nearly $ 1,750 dollars. Responsible for this reset, for a strong US economic data, which drove the dollar index upwards, and, on the other hand, utterances of the US Federal Reserve, which triggers concern in the market participants, that the Fed could reconsider their ultra-export monetary policy. These statements had a strong increase in yields of government bonds resulting in investors compared to gold to attractiveness.

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Fed Soothes Mainted

Meanwhile, the gold price was able to climb the $ 1,800 dollar again. For Fed boss Jerome Powell clarified that although a debate has begun a return of billions-heavy securities purchases, yet it will take a while until the economy is so far that a reduction in monetary policy support can be considered.

In addition, the Fed considers the strong increase in inflation rate, which in June at 5.4 percent reached a 13-year-old high, only as a transitional phenomenon. So Powell assumes that the inflation initially remains at an elevated level before decreasing again. So he does not see the Fed under pressure.

Delta variant spreads from

Stanko Iliev, Financial Analyst at Invey, is also the opinion that the increasing dissemination of the contagious delta variant of the Coronavirus could help the gold price over the resistor brand of $ 1,850. This now dominates the infection events in the US and large parts of Europe. "We are not over the mountain for one end of the pandemic," Who Regional Director Hans Kluge explained to the situation in Europe. Sadly, you can experience a significant increase in the fall numbers associated with the delta variant.

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should deteriorate the epidemic situation and thus raises doubts about a sustainable economic recovery - for example because new lockdowns are required - or should the inflation contrary to the assessments of the Fed do not mitigate, then more investors are likely to visit the secure port gold again. The negative correlation to shares, interest and the dollar should then support the yellow noble metal.

Gold Prize: Risk Aversion could support

Stanko ILIEV assumes that investors will probably avoid the risk in August 2021. If it succeeds the gold price by cracking the resistance of $ 1,830, then the way is free to the next resistance at $ 1,850. However, if the development goes to the other direction and the gold price sink under the support of $ 1,750, then this is a clear "sell" signal and the way is down to 1,700 dollars.Redaction finanzen.net

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