Most analysts agree that gold expects a correction at $1550 per 1 ounce in the near future. The cost of precious metal stopped at this level and is not yet able to overcome it.
At the moment, the price of gold continues to consolidate below $1550 per 1 ounce. Experts emphasize the strong overbought yellow metal. This situation provoked a correction in the market of precious metals, analysts remind.
Current trends imply an active strengthening of the US currency against other world currencies and a massive outflow of capital from all emerging markets. Against this background, gold "took a pause" in its growth. However, its rise will continue sooner or later, experts believe. They expect to test at $1,900 per ounce in the next 18 months.
Experts remind that the period from early September to November is traditionally considered a "storm" season in the global financial market. Traders and investors should expect strong volatility and sharp market fluctuations. Nevertheless, gold remains immune to all storms: no wonder it is considered a "safe haven" and "refuge" for capital.
