Finance

Famous Strategist: Gold Price Will Be At These Levels in Late Summer and December!

Although the first quarter should represent the lowest in precious metals, a market strategist warns investors not to follow the market at current levels. Carley Garner, co-founder of DeCarley Trading, commented on the markets and shared the levels that gold will see. According to Carley Garner, don’t chase gold and silver at these levels, buy soles.

Carley Garner: If you’re trying to buy around $1,830, it’s kind of dangerous…

Carley Garner, the founding partner of the brokerage house DeCarley Trading, said in a recent interview that the gold price has been on the rise since March and that he expects the prices to close the year at much higher levels.

However, Carley Garner added that there is a risk that the expensive metal will see a decline once again before it is ready to rise. Carley Garner adds the following to her explanations on the matter:

There is a fairly heavy resistance with gold price near $1,850. For the occasion, it’s a bit dangerous if you’re trying to buy around $1,830. You want to make sure you have some fence in place…

Carley Garner: This is a really good time of the year for gold and silver.

Carley Garner added that she likes the idea of ​​buying on the drops. In addition, the expert said that the retests of gold are likely to be supported quickly below $ 1,800 per ONS. Carley Garner adds to her comments on the bet:

Late summer, early fall is usually a really good time of the year for gold and silver.

Carley Garner expects gold prices to decline before rising

Looking at the fundamentals of gold, Carley Garner pointed to a decline in commodity prices, similar to the fall in timber prices. Cryptocoin. com

As we previously reported as , the sawn wood market returned its profits after the historic gains in the first half of the year. Carley Garner said she’s seen peer patterns in a wide variety of commodities, from pig futures to copper.

But Carley Garner said low commodity prices pose a threat of deflation and even stagflation rather than a threat of inflation. He added that it is unlikely that the Federal Reserve will take swift steps to tighten monetary policy under these circumstances.

Carley Garner: Gold price may return to these levels by the end of the year

Carley Garner said he expects the threat of deflation to emerge later this year as he expects oil prices to drop to $50 a barrel. He explained that US shale gas producers were reluctant to increase oil production; however, crude oil supply is starting to rise again as oil is now over $70 per barrel. Carley Garner adds to her comments on the bet:

Higher prices treat higher prices. Crude oil will be the last oil to collapse. And that’s the only thing that really hurts when we talk about inflation.

Looking at gold prices, Carley Garner said that he expects the yellow metal to return to $2,000 per ONS by the end of the year if gold prices rise to $1,900 per ONS by the end of summer.

As for silver, Carley Garner said the metal is very quiet

Carley Garner noted that as soon as gold gains new momentum, the market is ripe for new speculative interest. Carley Garner adds the following to her explanations on the matter:

Many speculators are net long, but based on what we see historically they have very little standing. Many of these people have run out of gold at the beginning of the year and there is plenty of ammunition to get them back to work as things are starting to move on the real side.

As for silver, Carley Garner said the metal is very quiet. However, Carley Garner expects to see higher prices in silver by the end of the year, just like the price of gold. Carley Garner adds the following to her explanations on the subject:

As with silver, I don’t think we can rule out another low-level test. But ultimately I think we’ll see somewhere in the middle of $29 to $31 by the end of the year.

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