Hamed predicted another rise in gold as the new US President Joe Biden settles into office and makes his policy clear. The fluctuation of the dollar and uncertainty around the values of the next US stimulus package could also contribute to the rise of gold prices, he said. He predicted gold to record US$ 1,900 by the end of the first or second quarter of 2021. The gold exchange witnessed the best performance for gold two weeks ago, as gold touched US$1,875. Amawy said that the US Federal Reserve’s statement this week will have a significant impact on gold prices, as one of the important indicators that will be relied upon.

Source: Egypt Independent January 26, 2021 13:07 UTC