The fed has announced it will raise interest rates, this combined with China’s stock market collapse has sent the Dow Jones tumbling. If the Fed will reverse course next week, we expect stocks to reverse as well. Our current prediction for gold for the last week in August is positive.
By Mark Hutto
These are US Mint figures for American Gold Eagle’s monthly demand. Look at July. Prices dropped but demand has sky-rocketed. This is where futures trading conflicts with physical demand. The market may correct itself when speculators have to cover their short sales. This could result in some serious upward movement.