XAUUSD - Will gold recover this week?
Updated
World gold prices this morning tend to increase with gold prices increasing by 2.5 USD, so the trading level is up to 1835.6 USD/ounce.
In trading late last week, the gold market demonstrated recovery momentum as the labor market breakout revealed some weakness despite last month's increase in jobs. The modest increase ended a long series of declines since the US Federal Reserve (Fed) kept interest rates unchanged at its policy meeting on September 20 and the US jobs report was recently released. sending gold prices right to a 7-month low.
Kitco News' latest ongoing gold price survey fails to find a clear picture of gold's direction this week as both market analysts and investors are evenly divided on the precious metal's outlook for week ending October 13.
Specifically, among the analysts who consulted the survey, 38% thought gold prices would be higher this week; 38% predict prices will decrease; 24% have a neutral view on gold this week. Meanwhile, 43% of retail investors participating in online Main Street tours expect gold to rise this week, 42%11 predict lower prices, 15% see prices moving sideways in the near future. limit. limit.
The survey shows that retail investors expect gold prices to trade around $1,842/ounce this week, $30 lower than last week's expectations.
Michael Moor, founder of Moor Analytics, said gold is forecast to fall this week. However, he believes that the precious metal must be at the bottom and it may be time to turn around.
In trading late last week, the gold market demonstrated recovery momentum as the labor market breakout revealed some weakness despite last month's increase in jobs. The modest increase ended a long series of declines since the US Federal Reserve (Fed) kept interest rates unchanged at its policy meeting on September 20 and the US jobs report was recently released. sending gold prices right to a 7-month low.
Kitco News' latest ongoing gold price survey fails to find a clear picture of gold's direction this week as both market analysts and investors are evenly divided on the precious metal's outlook for week ending October 13.
Specifically, among the analysts who consulted the survey, 38% thought gold prices would be higher this week; 38% predict prices will decrease; 24% have a neutral view on gold this week. Meanwhile, 43% of retail investors participating in online Main Street tours expect gold to rise this week, 42%11 predict lower prices, 15% see prices moving sideways in the near future. limit. limit.
The survey shows that retail investors expect gold prices to trade around $1,842/ounce this week, $30 lower than last week's expectations.
Michael Moor, founder of Moor Analytics, said gold is forecast to fall this week. However, he believes that the precious metal must be at the bottom and it may be time to turn around.
Note
XAUUSD SELL 1865 - 1867✔️TP1: 1860
✔️TP2: 1852
❌SL: 1875
Note
XAUUSD BUY 1850 - 1852✔️TP1: 1860
✔️TP2: 1868
❌SL: 1842
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