28.03.2016 - We expect the fall of gold price

The price of gold ended the growth within the uptrend and recently showed a decline amid rising investor confidence in the Fed raising interest rates during the next Fed meetings. At the same time, the positive statistics on GDP growth in the 4th quarter by 1.4%, which is 0.4% better than the previous assessment, leads to a decrease in demand for defensive assets like gold. This week, the volatility is likely to increase in connection with the release of the US labor market report. According to our estimates, the downward dynamics of gold in the coming months will continue with the potential fall to 1100 and 1050 dollars per troy ounce.

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