Haddadin:Cryptocurrencies are hitting a new high, oil is falling and gold continues to soar.

Expert, strategic and economic analyst engineer Mohannad Abbas Haddadin said that cryptocurrencies, led by bitcoin, have exceeded the barrier of 72 thousand dollars in light of expectations of further interest rate decline on the dollar, as it is expected that there will be reductions by an average of 25 points in the next two months, this comes after the BRICS meeting in Kazan, Russia last week and referring to the de-dollarization in commercial transactions between the group members, which will include 13 new countries for a total of 23 countries, and there are also several other countries that have expressed their readiness to join in the coming period.اضافة اعلان

On the other hand, the pace of geopolitical tensions in the Middle East has decreased after the timid Israeli strike on Iran and its distancing from energy sources and production, and thus boosted oil productivity and ways to secure it, especially in the Gulf region.In addition to the slowdown in the Chinese economy and the lack of demand for oil caused its prices to fall by about 7% over the past days, and further decline is expected for the end of this year.

While gold remains a safe haven that has maintained its high prices to soar again to reach 2790 dollars per ounce, in anticipation of the results of the US elections and the real data of the US economy, which is also suffering from weakness and weak economic data results, we may witness a period of profit-taking next month with a slight decline before it starts a series of rises, as the specter of recession still dominates the world and growth data for countries came less than expected. 

This week, we may witness initiatives to stop the war in Gaza and southern Lebanon, at least temporarily, which the United States will push through its mediators to avoid any repercussions on the American elections on the fifth of next November.