Analysis of current gold short-term trades on the blockchain-based derivatives trading platform CloseCross reveals 55%are for the precious metal to increase in value between now and the end of September, while 20% anticipate a fall, and 25% foresee no change in valuation.
CloseCross, which is regulated under MIFID II rules, enables traders to generate profits through a simplified three clicks process of selecting an asset, predicting price-bracket(s) and committing funds to these predictions, for a variety of asset classes including crypto, stocks, indexes, commodities, forex pairings, etc.
CloseCross CEO, Vaibhav Kadikar, said: “There are several conflicting factors impacting the price of gold. It is supported by persisting concerns about the Coronavirus crisis, a volatile global economic recovery, China’s regulatory crackdown measures, and increased geopolitical tensions.
“US monetary policy is also a key factor in the price of gold and any tapering of bond purchases, or interest rates rising could see it fall. Inflation, which has been rising, will be one of the main drivers behind how monetary policies could change.
“Demand for gold from central banks also plays a key role in the price of gold. Many paused purchases while responding to the worst of the pandemic, but they resumed buying gold this year and how this progresses over the next few months will have a big impact on its price.
“The gold trading data on our platform shows there is no real consensus as to what will happen to the price of gold in the short-term.”
CloseCross is regulated under MIFID II rules offering increased protection and transparency for customers. Unlike other trading platforms, there are no participation fees for using CloseCross, and its patented multiparty model ensures that leverage is not needed to achieve potentially outsized returns. Money placed on incorrect predictions is lost, but you never lose more than what you put in as there is no leverage needed or possible on the platform. Users pay facilitation fees, only on their winning trades, giving them significant savings when compared to traditional trading platforms.
The platform also provides real-time data on the predictions of other traders enabling investors to make a more informed forecast based on increased transparency. People can choose to follow the crowd or go on their own views.