Gold price forecast in January 2020
According to the model developed by the AXL Capital Management team, this report issues the projected levels of Gold prices for January 2020. The monthly tracking from January 2018 to December 2019 in the upper and lower ranges, all the values at the end of each month of the Gold prices are within the estimates. To date, the model operates within its 90% confidence limits. Graph # 1: Tracking model results vs. real Gold price data, monthly close (10 am LBM) January 2018- Dec 2019. The beginning of the year 2020 has a particular level of challenge for the estimates of the model since the tensions between the USA and Iran increased the level of global uncertainty and with it, the volatility of the market registered in the VIX rose to levels higher than 16 at the beginning of this week, the above impacts on the price. However, as of the date of this report, the value of the VIX dropped to 12.38. Graph # 2: VIX volatility index. The daily timeframe fr