The price of gold fell from three months to three, and the analyst says it's still good in the short term

The price of gold fell on Tuesday, before reaching the highest level for more than three months. Investor attention turned to the upcoming release of inflation data in the United States, as well as remarks by Federal Reserve Chairman Walsh later this week. According to Tony Sycamore, an IG market analyst: “Looking ahead, we expect to be strongly supported by a buyout when the gold returns.” Last week, the United States Department of the Treasury indicated that it would double the scope of repurchase operations for liquidity support for longer-term national debt and bonds, and that the price of gold would then rise significantly. The news raised concerns about the depreciation of the market against the United States dollar. “These concerns should provide strong support for gold in the coming weeks, given that the Fed has yet to send a clear signal that it is prepared to cope with rising inflation. However, taking into account that interest rates may eventually rise in the short term as crude oil prices continue to rise, it is too early to see a substantial increase in gold prices.”