The gold price is under pressure ... Gold 2017!?The gold price is under pressure ... This is how the gold price 2017 continues!
The gold price has fallen sharply in recent months. In the middle of the year, gold still cost more than 1,360 US dollars per fine, a gold refinement worth less than $ 1,140 - a price slump of almost 15 percent.
The fear of a future US president Donald Trump triggered only a short-term price rise. And even after the resignation of Matteo Renzis as Minister President of Italy, there is no crisis in Europe that would justify an investment in safe havens like gold.
Yellen and analysts are increasing sales pressure on gold?
The slightest recovery tendency of the gold price then ended the boss of the US banknote highly personal. Janet Yellen sees the US labor market in the strongest constitution for almost a decade, which suggests a rise in wages. On the gold markets, investors interpreted this as an indication of further interest rate hikes - and increased the sales pressure on the yellow precious metal.
The last hope for a rising gold price this year finally destroyed the analysts of Macquarie. The commodity experts revised their prediction for the average gold price in 2017 compared to the previous forecast by almost twelve percent to 1,216 dollars down. Will 2017 be similarly unsuccessful for gold speculators?
New Year New luck? Gold price 2017 before reboot?
Sure, at the moment: December remains exciting with regard to the gold price, but an end to the weakness is, however, only once in sight. Gold investors hope for the future. And this hope is possibly justified - despite rising interest rates in the US, because: The Fed only increases interest rates if the economy remains stable and inflation continues to rise.
Above all, the latter could give the gold price a boost, after all, the precious metal is considered a protection against money. If the central bank acts cautiously and gives inflation the opportunity to develop, gold could actually benefit, says Axel Merk of Merk Investments in San Francisco.
Gold award before the start?
Joe Foster, Goldexperte and portfolio manager at the VanEck investment company is also hoping for a gold price rally. In his opinion, the stock markets have been in the "fantasy mode" since the election of Donald Trumps to the US president. Accordingly, equities are currently rising mainly because positive forecasts are based on the future Trump policy. The designated US president had promised tax cuts and higher infrastructure spending in the election campaign.
For the coming weeks, the expert does not rule out prices below the important trend line of 1,200 US dollars per fine of gold. "In the long term, however, the demand for gold as a hedge against rising financial risks is likely to remain high," says Foster. He points out that the current positive economic cycle with seven years has been extremely long. On this basis, the probability of the advent of a recession rises.
Gold 2017 may be a crisis currency?
Due to political uncertainties, Gold could meet its reputation as a crisis currency in the coming year. IS terror, populist tendencies in many countries, Brexit negotiations and important elections ensure investors are more secure in their portfolios. The Bundestag election in Germany and the presidential election in France could be a pioneer at the end of 2017 - for Europe and the gold price.
Both the right-wing populist AfD in Germany and the almost right-wing Front National are given good chances in the elections. The AfD could move into the German Bundestag for the first time, and the Front National will even be given the opportunity to put the new president of France with Marine Le Pen. This is not a good idea for everyone, but a hopeful future for gold investors.
Analysts expect the gold price rise in 2017!
Most analysts expect a rising gold price in 2017 - also because of the political risks mentioned. On an average, the Gulf countries see a price rise to 1,286 dollars per glove. Helaba and LBBW are even assuming a price of 1,450 dollars per ounce of gold.
In addition to analyzes and future forecasts, investors should also rely on their gut feeling. In the middle of the current year, the Swiss major bank Credit Suisse had still assumed that gold would rise to 1,500 dollars per refinance by the beginning of 2017 - this should no longer be achievable, so experts are also there.
The coming weeks are certainly not a bad time to invest in gold. The end of the year is running, the US economy is picking up and the stock markets are in record mode. And ten percent of gold belong to any well-diversified securities deposit anyway.