The price of gold futures rebounded to 15.60 dollars thanks to the buying of safe assets.

The price of gold futures closed Wednesday (Dec. 7) rebounding to $15.60 as investors flocked to buy gold as a safe haven asset. Amidst worries about a recession

Comex gold futures contract Introduced in February. plus $15.60 to close at $1,798.00/oz

In addition, the price of gold is also a positive factor of the depreciation of the dollar. which will increase the attractiveness of gold By making gold contracts cheaper for holders of other currencies.

Jamie Dimon, chief executive officer of JPMorgan Chase, the largest bank in the United States. He warned that inflation could drag the US economy into recession next year.

In addition, Mr Dimon said the Fed’s tendency to raise interest rates to a maximum of 5% may not be enough to prevent inflation.

Dimon has warned that before The United States and the global economy are likely to go into recession in the middle of next year. It was affected by rising inflation, rebounding interest rates. Including the war between Russia and Ukraine.

Investors expect the Fed to raise interest rates beyond 5.0% in the middle of next year after releasing a strong jobs report. Although the Fed has raised interest rates by 0.75% for four consecutive times. This shows that the tightening of the Fed’s monetary policy in the past has not been able to reduce the heat in the labor market. This has led to expectations that the Fed will continue to raise interest rates next year to slow the economy and prevent an increase in inflation.

CME Group’s FedWatch Tool indicates that investors now expect the Fed to raise interest rates to a range of 5.00-5.25% in May 2023. After previously forecasting a level of 4.75-5.00%

Investors are eyeing the Fed’s monetary policy meeting on December 13-14, the last meeting of the year. Including a speech by Fed Chairman Jerome Powell to guide the direction of Fed interest rates in 2023.

Standard Chartered Bank released a report expecting the price of gold to soar 30% to $2,250/oz next year.

He released Mr. Eric Robertson, chief global researcher at Standard Chartered, a report named “Financial market surprises 2023” or “Financial market surprises 2023”, outlines a number of events that could happen in the next year. which the market has ignored

One of the events in the report is a 30% jump in gold prices to $2,250/oz. It is driven as a safe asset. Although investors are flocking to buy gold to find stability. amid stock market volatility

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