Report experts: Gold price to slump in near future

Baku. 12 December. REPORT.AZ/ Gold price is expected to slump in the near future. 

Experts of Report News Agency say, financial market is certain that US Federal Reserve (Fed) will raise interest rates in its meeting on December 13-14.

Beside this, Fed is expected to raise interest more intensively in 2017. This will unavoidably lead to decline of interest for gold and rise of interest for US securities. Moreover, restrictions for purchase and reservation of gold set by China and India will further drag price of this precious metal down.

Report’s experts bekieve, gold price to slide down to 1000-1050 USD/ounce in short term and to 700USD/ounce by 2018-2020.