16 November 2022 | Other

Gold rises on escalation of tensions in Eastern Europe

Gold prices continued to increase on Wednesday due to heightened worries of possible escalation of tensions in the East of Europe. The situation there getting more and more complicated has caused the growth of demand for traditional safe haven assets.

Further aggravation of the conflict will likely continue having notable impact on gold prices, boosting their growth.

According to the information provided by Investing.com, bullion prices were also affected by the weakened dollar after the latest release of data that demonstrated 14-months-record low levels of producer inflation in the U.S.

Such circumstances might prompt the Federal Reserve system to soften its hawkish attitudes. Specialists forecast that the next rate hikes might be delivered in a relatively smaller volume next month.

Company MarketCheese
Period: 01.05.2025 Expectation: 1000 pips
GBPUSD to test level of 1.34 again
Yesterday at 10:58 AM 42
Brent sell
Period: 01.05.2025 Expectation: 660 pips
Trade uncertainty and excess OPEC+ supply are dragging down Brent
Yesterday at 08:49 AM 35
Period: 29.04.2025 Expectation: 600 pips
USDCAD to head towards 1.39400 after rebounding from 1.38200
Yesterday at 07:48 AM 28
Period: 02.05.2025 Expectation: 1669 pips
AUDCAD gains on potential easing of trade tensions between US and China
Yesterday at 07:02 AM 26
Period: 30.04.2025 Expectation: 12000 pips
ETHUSD set to test upper boundary of downtrend channel
24 April 2025 74
Period: 25.04.2025 Expectation: 500 pips
AUDUSD to fall to 0.63000
24 April 2025 42
Go to forecasts