As for the yellow precious metal, he warned that the price of gold could fall even more. On the one hand, the US dollar is very strong and many investors already hold gold, on the other hand, rising interest rates and eventually real interest rates further complicate the situation of the precious metal.
TD Securities bank expects gold prices to fall to $1,580 per troy ounce.
Overall, Melek still sees gold as a very sensible investment, for example for diversification, and ultimately believes in a recovery in its price.