Gold price has reached the highest level in the past five days

After the British off the European referendum, gold bulls won new “policy.” In fact, although the market about the Fed rate hike heard the voice, but this year the cumulative gold rose more than 28%, indeed called beautiful comeback.

The industry believes that: Although gold up a lot, but with a record high of $ 1900 / ounce compared, there is a lot of space. Now, gold is moving away more than three years of bear market, he looked into the Dallas City.

HSBC Bank (HSBC) on Tuesday released a report that will be raised to an ounce on the 2016 average gold price of $ 1275, while the 2017 average price forecast raised to 1310 dollars per ounce. In addition, the bank expects 2018 gold will average US $ 1270.

State Street Global Advisors (State Street Global Advisors) Asia-Pacific vice president and ETF gold expert Robin Tsui, said in an interview, even if the Fed will raise interest rates again in December this year into account, the price of gold may still end up to an ounce 1400- $ 1,450. If the Fed does not raise interest rates in December, the price of gold will be higher than this level.

This week’s market focus shifted to the United States, the focus of the event will include the Fed minutes released on Wednesday and the US June non-farm payrolls data on Friday. With Britain out of the EU decision, the market has almost ruled out the possibility of the Fed raising interest rates during the year. The current market for the United States in June Nonfarm employment is expected to be 162,000, if the final result in line with expectations, or compared with the previous values ​​are significantly improved, then this will reassure markets worried about the US economy, but if it still continued weak employment data trend, the market is likely to reassess the Federal Reserve may raise interest rates, and thus will make gold rise again.

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