Gold tests $ 1,500 in 2019

Union

After arriving in June at the highest price for 6 years (Union)

Hossam Abdulnabi (Dubai)

The average price of gold is $ 1,350 an ounce in 2019, with the ability to test and exceed the level of $ 1,500 later in the year, according to a study by the company "GFMS" Gold, citing expectations regarding the possibility of further escalation of global economic concerns. Main central banks to monetary easing policies.
According to the survey, reported in the report of Thomson Reuters' official unit of financial operations and risks, if the US Federal Reserve did not lower interest rates, there could be have a quick turnaround towards a strong dollar and a sharp fall in the price of gold, especially given the current situation. "Although economic uncertainty may weigh on gold demand in China, a sharp recovery in the price of gold will likely attract investors, and the Indian demand for gold depends on the price of gold. sales activity this season, although high gold prices may continue Demand under control.
The report shows that the index of investor sentiment towards gold continued to rise in the first half of this year, under the influence of uncertainties. economic and political, with investors' activities pushing the price of gold to a high level in around six years at the end of June.
He pointed out that global production of gold mines had increased by 51 tons or 7% on an annualized basis in the first quarter of this year, while the average cost of gross output is expected to decrease by 1% in the first quarter in 2019 to reach $ 667 / ounces, while the average total cost dropped 3% year-over-year to $ 868 / oz. The report shows that the central bank's gold purchases reached their highest level in the first half since 2012, reaching 260 tonnes, an increase of 39%, while central banks (especially in emerging markets ) increase their safe haven reserves. Russia maintains its position As the first single buyer of gold for China for the fourth year in a row, China has recorded a 64-ton increase in its official gold reserves since January, compared with the previous year. No increase over the same period last year, which indicates that these results are contrary to the trend of demand in the retail sector,% Over the same period against T See the application for alloys.
The 2018 gold trend index has experienced a positive evolution, especially in the second quarter, under the impetus of new global economic and political uncertainties, from the momentum of the year. escalation of the trade dispute between the United States and China, lower inflation expectations and, most importantly, a change in mood between banks. Central to the world's most flexible monetary policy.
The report, "Review and Forecast for the First Half of 2019," indicates that investors in ETFs are enthusiastic about gold, adding 32 and 69 tonnes of gold to their holdings in the first and second quarters respectively , representing net inflows of $ 4.2 billion The first six months of this year.
The report noted that the demand for gold in China and India, which together account for 40% of global demand, remained stable in the first half of this year.
He pointed out that the strong performance of the stock markets and the rise in gold prices, especially in May and June, have led to the liquidation of European investors of some of their badets in gold in order to make a profit. The report revealed that jewelery manufacturing volume decreased by 3% in the first six months of this year.