The price of gold continues to amaze investors
Gold prices continue to shake the imagination of investors. The precious metal is trading in an ascending channel since may 23 this year, and while it remains in force. Troy ounce of gold is trading on the morning of Wednesday, August 21, at $1513,30. The technical picture allows for continued growth until at least $1550, medium — to $1600. The long-term target for gold is at $1680-1700 per Troy ounce.
In a temporary flat gold can hold US intention to continue negotiations on a trade agreement with China, but today it is and tomorrow may not be. The Central Bank of China stimulates its economy and intends to come to grips with the problem of the acceleration of GDP is also negative for gold, but the issue is more than global, so quick effects here. The recession in the US is delayed, as the macro statistics, and trump talking about one. It also smoothes the long-term interest in gold as a tool for hedging risks.
But geopolitical risks in the global understanding of higher, the global economy looks weaker than it could be, the situation can change quickly. And that’s the power of gold.