China on the other hand has proposed its new National Security law which would allow Beijing to control over Hong kong’s legal system, which is causing a growing tension between U.S. & China adding to the market’s uncertain outlook. The negative real yields basically signals a bearish sentiment for Global economy’s outlook, which is acting as a cause of yellow metal’s continuous gain in price. As investors are finding Gold much more attractive than Treasuries, which would be giving antalya escort a negative return. The latest U.S. CFTC reports also suggests that Long position on Gold has significantly increased among large Institutions. Goldman Sachs is already forecasting that Gold will hit $2000 an ounce, while J.P. Morgan Chase & Co. said to stick with bullion as it is most leveraged to a low real yield environment.
Technically, the first biggest barrier for Gold would be to get above the $1765 region mark. As there has been quite a big resistance around the region in recent days. Once we see a break above, we can easily target $1800 handle as there is no major price points in-between. The bollinger bands on the daily time frame is also becoming narrow, which signifies a price break above or below, with fundamentals indicating a price surge in this case.
