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Analyst: Gold price will still respond to the fall of the dollar

April 15, 2019 22:52
source: FXStreet

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  AnalystIt is said that gold prices may rise this week as gold prices rebound after falling sharply last Thursday.

Gold prices fell 0.32% this week, the biggest drop on Thursday, at 1.5%. The New York Mercantile Exchange (Comex) June gold futures price was last reported at $1,296, up 0.21% on the day.

The good news for all of this is that Kim stands firm and is expected to be next week.Gold priceIt will rebound slightly, as the value of the transaction declines due to a series of public holidays around the world.

According to Huixin, Bart Melek, global strategy director of TD Securities, told Kitco News that gold prices will continue to rise next week. Gold prices still need to respond to some positive factors, including the dollar's decline.

The dollar has been responding to China’s strong economic data. He said: once the enthusiasm of the North American market has weakened, the dollar's decline should help gold out of the woods.

Mark McCormick, head of North American foreign exchange strategy at TD Securities, reiterated that the more stable the Chinese market looks, the more likely the dollar will go lower.

One inch and one inch of China began to provide a more concrete story, highlighting signs of economic stabilization. China’s data is surprising, and now seems to surpass the United States, expanding the dollar’s ​​decline.

Last Friday, the dollar’s ​​strong exports to China in March andcurrencyThe loan data responded.

Exports are expected to increase by 6.5% year-on-year, while the actual increase is 14.2%. New RMB loans increased by 1.69 trillion yuan, and total financing increased by 2.9 trillion yuan. The bottom line is that past stimulus measures are penetrating the economy, said Win Thin, head of global exchange rate strategy at BBH.

(Article source: FXStreet)

                (Editor: DF512)

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