Citizens fear to invest in gold in the coming period with expectations of lower prices with the US Federal Reserve announcement to raise interest rates 3 times during the next year, and the first time is expected to be next month.
Nagham Muhammad, executive director of Smart Deal Financial Consulting, said countries’ economic policies drive them to make the most profit possible, as they sell some of their reserves when prices reach high price peaks, and buy with the fall in prices, as some countries sold part of their reserves with the arrival of gold at the level of gold 1855 dollars, then gold fell to the level of 1779 dollars, and it bought again , and it will repeat this process again, before prompting demand to rise price to the $1807 level.
He expected gold to hit levels above $1,855 an ounce before the interest rate hike next March, as a violent drop would be followed by a violent rise.
Regarding the tendency of citizens to invest in gold bullion or jewelry, Nagham Muhammad clarified that the best for the citizen tends to benefit, especially since the prices of bullion factories are close to those of the Arts and crafts.
Translated by Ahmed Moamar