Gold News: Bullion Down Post French Elections
Gold News
In the latest gold news: As of April 30 at 9:04PM EST, gold was down trading at $1267.19 per ounce, down from last week’s price $1271.38 per ounce, marking a second consecutive week of declines for the bullion.
Particularly in the last month, gold has been impacted by the geopolitics, from the US airstrikes on Syria and Afghanistan to increased tensions with North Korea. Following the easing of uncertainty following the first round French elections last Sunday and with Emmanuel Macron expected to win the second round, the price of safe haven gold has been falling. Goldman Sachs is now predicting that the price of the bullion will fall to $1200.
India’s digital payment app Paytm is becoming a digital platform for buying and selling “digital gold.” The collaboration is between a Swiss bullion company and the government of India who will hold the physical gold in a vault if the Paytm user decides not to have the gold delivered to their home.
In the 3-day gold prediction ending April 28th, I Know First’s algorithm based on predictive analytics showed an impressive 100% accuracy rate, as seen in “Gold Prediction Based on Predictive Analytics: Returns up to 0.58% in 3 Days”. After three days, I Know First’s average percent change came out to 0.58% with both GLD and XAU as the top earners bringing in an impressive 0.58% return to short investors.
