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09.11.201817:37 Forex Analysis & Reviews: Experts: Gold has a good chance for growth

Long-term review

Exchange Rates 09.11.2018 analysis

Analysts of the French bank Natixis believe that in the future, gold will have an excellent opportunity to grow against the background of a slowdown in the rise of the American economy and a weakening dollar.

"We believe that the deterioration of economic indicators in the United States and the depreciation of the US currency will be the main factors that will increase the price of precious metals," experts said.

They expect that next year, the average gold price could be $ 1,275 per ounce, and in 2020, $ 1,300 per ounce.

A similar point of view is held by experts of the American bank Wells Fargo.

"Largely due to the correction in the stock markets, the gold rate was able to show an increase of 2% in October. Then investors used the precious metal as a defensive asset to wait out the turbulent period on the stock market," representatives of the financial institution said.

"We believe that gold has a good chance of rising in price over the next 12 months to a mark of $ 1,300 per ounce," they added.

Viktor Isakov,
Analytical expert of InstaForex
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