Abstract：Global spot gold price rose to 1,817.88 USD on July 8, hitting a 8-year high. Wholly speaking, gold price still hovers at a high level. According to the previous experience, it seems like the gold price hasn’t peaked, and it is likely to hit a new high in the future and edges close to another major level of 1,900 USD.
Global spot gold price rose to 1,817.88 USD on July 8, hitting a 8-year high. Wholly speaking, gold price still hovers at a high level. According to the previous experience, it seems like the gold price hasnt peaked, and it is likely to hit a new high in the future and edges close to another major level of 1,900 USD.
I have traded gold for 30 years and know that there are many basic factors that can affect the trend of gold, as well as major ones including against the USD, trend of the USD, geopolitics and anti-inflation. Now the weak US dollar, geopolitical tension and easing monetary policy by global banks all contributes to further currency depreciation. Although the strong US stock decreases risk aversion, gold price will rally steadily and repeatedly due to the well support by other favorable factors.
It is remarkably that a sudden slump in global stock markets is profitable for gold price with an increasing risk aversion. Recalling the sharply drop in stock market in March, both gold and stock slumped by over US$250. As the stocks fall led to the liquidity squeeze of US dollar and further to sharp rise of US dollar index, causing the simultaneous sharp drop of both a group of non US dollar currencies and gold. Therefore, if the global markets collapse, do not easily believe that it is good for the gold price 100 percent.
Recently, according to a data released by the US, its inflation increase recorded a 8-year high, caused by the sharp recovery of oil price. If the inflation in the US becomes worse, the Fed still needs to simulate economy by maintaining lower interest rate, which is expected to support well the price of gold, as an anti-inflation hedge. In a short term, supported by the profitable factor above, the spot gold price is likely to test above the level of 1,840-1,850 USD, and then to approach the major level of 1,900 USD after giving back gains with a stable fluctuation.
[About The Author]
Since 1987, Jasper Lo has been engaged in the financial industry (forex, futures and gold) for more than 32 years and holds forex R.O., securities and futures broker licenses. Mr Lo is an expert in trading forex, precious metals and commodity futures and an basic and technical analyst.
Over the years, Mr Lo won many individual and team sales champion awards, as well as outstanding employee awards. He was invited, as a guest mentor, to the University of Hong Kong, Guangdong Ocean University and Guangzhou Jinan University. And he was also appointed as the chief training consultant by Hantang Securities and Dongguan Securities in China.
Mr Los experience as guest of honor invited by media including Chinese and English newspapers and columnist:
-Guest of honor invited by TVB New Channels such as Finance Channel, Forex Focus, Global Watch
-Guest of honor invited by Now Finance Channel - Forex Reports
-Guest of honor invited by i-CABLE Finance Info Channel - Forex Opportunities
-Guest of honor invited by ViuTV - Investor Smarter Group
-Columnist of Finance and Forex Market of Ming Pao
-Presenter of Finance and Forex Forecast of Ming Pao
-Presenter of Investment 36 Stratagem and Technical Analysis in 1 Min of Ming Bao Finance
-Appointed lecturer of Ming Pao Investment Seminar and Paid Course
-Author of the best seller Investment 36 Stratagem
-Columnist of Forex Expert, Forex Analyst, Marathon Weekly of ET Net
-Guest of honor of Open Good Morning of ET Net
-Guest of honor of Metro Finance Channel - Market Opening, Instant Market Fighting, Guangdong-Hong Kong Finance, Finances Power, Market Analysis
-Guest of honor of New Era of Investment of RTHK
-Columnist of Capital Commodities of Capital Weekly
-Guest Presenter of Wang Guanyi Online Finance Channel - Fund and Commercial Bond
-Columnist of Wealthub Finance and Investment Smart Platform of Enrich Culture
-Guest presenter of Weekly Investment in the World of Enrich Culture
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