This week, 12 Wall Street analysts participated in Kitco News' gold survey. 42% think gold price will increase in the near future and 42% gold will decrease, 16% think gold price will move sideways.
In an online poll, 69% expect gold to rise next week, 20% expect gold to fall, and more than 10% expect it to move sideways.
The USD Index (a measure of the greenback's strength against other strong currencies) continued to rise, to 104.2 points.
According to experts, Mr. Powell's speech provides little new information about the direction of the US central bank in the near future.
The market still has to wait for the coming macroeconomic data. If the data shows a weaker economy, that is supportive for gold and vice versa.
In an online poll, 69% expect gold to rise next week, 20% expect gold to fall, and more than 10% expect it to move sideways.
The USD Index (a measure of the greenback's strength against other strong currencies) continued to rise, to 104.2 points.
According to experts, Mr. Powell's speech provides little new information about the direction of the US central bank in the near future.
The market still has to wait for the coming macroeconomic data. If the data shows a weaker economy, that is supportive for gold and vice versa.
✅ TP1: 1922
✅ TP2: 1920
⚠️ SL: 1902