5 factors that will determine the price of gold in the coming week..!?

Although gold prices fell at the start of last week, they started to rally again towards the end of the week. gold prices are seen above the key level of $1800 on Friday, the weekend. gold prices are bullish even though inflation is slightly lower than expected and the value of the dollar is at its peak. Will this itself put pressure on gold prices? Then how is the boom? How about next week? What are the things to look out for? Let's see.
Gold prices continue to hit highs for the 4th week in a row. It has seen 1.37% in the last week alone. According to the reports of experts, the price of gold continues to rise. It is said that it can touch 53,500 rupees per 10 grams in medium terms. It can trade between 1760 - 1820 levels in the international market. It is expected to increase to the $1850 level in the medium term. Crude oil prices could be one of the main factors determining gold prices in the coming week. It is one of the main factors that determine inflation. Due to this, gold prices are expected to fluctuate with crude oil prices.The value of the US dollar is one of the main factors that determine the price of gold. It was seen at a level of 104.63 last week. In the coming week, it is expected to rise again. It is also expected to continue above the 104.50 level. If the value of the dollar continues to rise, it may have an impact on the price of gold. In the coming week, the US Federal Open Market Committee will meet and US retail sales data will be released. It is seen as data on the economic growth of the United States. After hitting a 20-year high of 109.30, the dollar rebounded to 104.50. So this may be one of the main factors determining the price of gold in the coming week. So domestic investors can focus on this as well. Economic data will be released in the coming week. Apart from this, production data, building permits, house sales, etc data may also be released. Apart from this, cpi in the UK, cpi in Europe, and GDP data can also play an important role. This is also expected to have an impact on gold prices.
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Sowmiya Sriram

14/08/2022 06:47 PM