Hello dear traders! The price of gold continues to rise today, with gold trading around the $1945/ounce mark. Gold has increased by more than 1.25% in the past week as the US announced weak economic data such as non-farm payroll reports, increasing unemployment rates, and a decline in the ISM manufacturing index.
Buying gold remains a priority trend.
Speaking of this week's gold price, 11 Wall Street analysts participated in Kitco News' gold survey. 7 experts (equivalent to 64%) expect to see higher gold prices next week. While 3 analysts (equivalent to 27%) predict that the price of gold will decrease, only one analyst (equivalent to 9%) has a neutral view on gold for this week.
Wishing you smooth trading and good luck :D
Buying gold remains a priority trend.
Speaking of this week's gold price, 11 Wall Street analysts participated in Kitco News' gold survey. 7 experts (equivalent to 64%) expect to see higher gold prices next week. While 3 analysts (equivalent to 27%) predict that the price of gold will decrease, only one analyst (equivalent to 9%) has a neutral view on gold for this week.
Wishing you smooth trading and good luck :D
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How do you feel about gold prices today?
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Marc Chandler - Managing Director at Bannockburn Global Forex also expects gold prices to increase this week.
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Chief market strategist at Blue Line Futures, currently does not see any factors that can stop the rise in bond yields.
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The US Bureau of Economic Analysis' report on second-quarter gross domestic product showed that the economy grew by 2.1%, lower than expectations.
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Gold is expected to undergo significant changes in response to the upcoming monetary policy meeting of the Federal Reserve on September 19-20. We hope that gold prices will continue to receive strong support.
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Gold is going in the right direction
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The US market is closed for Labor Day, so there is not much information affecting gold trading
