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28 November 2022 | Other

There are no factors yet to push gold out of the 1600-1800 range

Gold

Over the past week, gold fell to $1,750 an ounce before recovering back to where it started. Under the current circumstances — high Treasury yields, a strong dollar and aggressive Fed policies — it's hard for gold to achieve a prolonged upward trend.

According to representatives of Gold.ru, at the moment no factor can push gold above $1,600 to $1,800 an ounce.

At the same time, according to Bloomberg, the central banks’ demand for gold this year could grow to 750 tons, exceeding the 50-year high by 100 tons, which is an absolute record.

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