Gold prices have dropped by 9% since last week and other precious metal prices feel 30%. But there is more weakness to come, Georgette Boele, a Senior Precious Metals Strategist at ABN Amro informs. Key quotes “We expect financial markets to remain in a risk off mode in the coming weeks and months, which should result in more dollar strength and gold price weakness.” “We expect that investors will liquidate more speculative net-long positions and ETF positions. Therefore, we expect a more pronounced weakness in gold prices than in other precious metal prices.” “New gold price forecast for Q2 is USD 1,300 per ounce (was USD 1,450).” “Even though we expect more price weakness for silver, platinum and palladium, the percentage drops will probably be smaller than last week’s experience.” “In the second half of this year, we expect a rebound in precious metal prices. The rebound will probably be more substantial in silver, platinum and palladium than in gold.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next New Zealand: GDP to fall 3-4% in 2020 in the best guess – ANZ FX Street 2 years Gold prices have dropped by 9% since last week and other precious metal prices feel 30%. But there is more weakness to come, Georgette Boele, a Senior Precious Metals Strategist at ABN Amro informs. Key quotes “We expect financial markets to remain in a risk off mode in the coming weeks and months, which should result in more dollar strength and gold price weakness.” “We expect that investors will liquidate more speculative net-long positions and ETF positions. Therefore, we expect a more pronounced weakness in gold prices than in other precious metal prices.” “New gold price forecast for Q2 is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
