Investors are feeling nervous despite the fact that the dollar has had a strong performance recently. There have been multiple events that on their own could cause a minor spike in gold prices within only a few weeks. The result has been an upswing in the price of gold futures. As of early trading on Tuesday, August 22nd, 2017, an ounce of gold for December delivery was hovering around $1,287, slightly down from the previous night’s close and an eleven-week high.
Given that, last night, President Trump went live on national television to announce an increase of ground troops in Afghanistan, it’s very possible that this upward trend for gold will continue. However, the opposite could also be true. Active military operations tend to demand a lot of investment and material support, which could bolster the United States dollar as well as the economy. Given that gold is often a popular investment in times of uncertainty, only time will tell where the market will push prices.
Geopolitical Concerns Include North Korea Tensions and Domestic Unrest
There was recently an act of terrorism in Barcelona, Spain, as well as a lot of concern about the deteriorating relationship between the United States and North Korea. The situations in Afghanistan, Pakistan and even Venezuela are also all under close watch right now. Combine that with increasingly hostile rhetoric domestically, and it’s no surprise that gold prices have been trending upward. In fact, some analysts are predicting that this trend could continue, carrying gold above $1,300 per ounce.
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There are many factors that will impact how gold prices move in upcoming weeks. From ongoing concerns about domestic policy to terrorism abroad and military actions, there are many unfolding situations that could quickly impact the trading value of gold. Savvy investors should pay close attention to international events and domestic news to try to predict how gold prices will trend in upcoming weeks.
Trading Gold Online Lets You Profit From Price Changes
Trading gold futures via an online Forex platform allows you to quickly and easily make trades when gold prices are changing. It’s much simpler to invest in gold futures than physical gold, and trading online allows you to control more of the precious metal by leveraging your investment capital. There’s potential to capitalize on small moves every day, as well as bigger and more sustained shifts in price.
