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: 14.05.2025 Expectation: 1650 pips
Technical and fundamental background supports AUDCAD
07 May 2025 82
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 08.05.2025 Expectation: 550 pips
EURUSD to drop to 1.13000
07 May 2025 58
Period: 13.05.2025 Expectation: 240 pips
Brent crude price rebound to continue up to 65
07 May 2025 73
Period: 14.05.2025 Expectation: 1000 pips
Buying GBPUSD amid trade talks and weaker dollar with target at 1.344
07 May 2025 37
Period: 12.05.2025 Expectation: 1500 pips
USDJPY rebound fades ahead of Fed meeting
06 May 2025 71
Period: 30.05.2025 Expectation: 975 pips
Natural gas maintains upside potential within megaphone pattern
06 May 2025 77
Go to forecasts