World Famous Analysts: If This Level Is Broken, Selloff Begins in Gold!

0

Estimates on gold prices came from the famous analyst. According to the analyst, XAU/USD will experience a significant decline once it drops below $1,914. Due to the embargoes imposed on Russia, oil prices have climbed to historical levels. Gold prices, on the other hand, have remained relatively flat since the beginning of the crisis, in defiance of the outcome of the peace agreements.

These levels for gold prices

As Somanews, as we have previously reported, all eyes are on the peace negotiations between Russia and Ukraine, not only in crypto markets, but also in all economic markets in general. As of today, there are slight decreases in dollar and gold prices. On the other hand, indecisive movements are seen in the stock market, Euro and cryptocurrencies, which are indicators of direction seeking. The handicap for gold is that it’s linked to progress in the Ukraine-Russia peace talks. However, the information and comments from Russia and Ukraine indicate that the parties are not ready to take a step back anytime soon. While Russia’s occupation of Ukraine continues, the traffic of talks between Russia and Ukraine and the FED’s interest rate decisions remain the most important determining factor for all economic markets.

According to TD Securities strategists, yellow metal lovers may find themselves going through the evacuation process in a vacuum environment. According to TD Securities strategists, a break below the $1,914 level could leave XAU/USD vulnerable to further declines. According to these experts, the big push in gold demand may be coming to an end.

Experts say it could be a sell-off

The enormous motivation for demand for gold could be lost, according to TD Securities strategists who have spoken about future levels for gold. Experts on the subject say:

The enormous push for gold demand from ETF and comex flows may be ending in line with their historical counterparts, as safe-haven flows tend to be short-lived. However, while the bar is extremely thin for key trend follower liquidations underneath, consumer demand is now showing signs of weakness following the rise in prices.

While a coordinated buying impulse from a large group of gold traders has helped gold prices rise dramatically over the past weeks, we can now see a coordinated reversal in flows, according to analysts. Analysts say:

To begin with, a break below $114/oz could precipitate an important selling schedule. Gold prices may be particularly vulnerable to a more hawkish Fed profile if the market begins to discount a future where, as we expect, the growth shock can fade faster than the inflation shock. And this opens the door to a deeper ascension. consolidation