predict the direction of gold on October 2, 2023
Updated
Kitco News' latest gold survey shows that most market analysts are optimistic that gold will recover in the near future, while retail investors are cautious after going through 7 sessions. consecutive losses.
Specifically, among Wall Street analysts participating in Kitco News' gold survey, 54% expect to see higher gold prices this week, 31% predict a decrease in prices. Meanwhile, 45% of retail investors participating in online polls expect gold to rise this week, with 41% predicting lower prices. Retail investors expect gold to trade around $1,872/ounce this week, $64 lower than last week's forecast, but $23 higher than the current spot price.
Everett Millman, market analyst at Gainesville Coins, said gold's recent decline is mainly due to seasonal factors. He forecasts that this precious metal will start the fourth quarter with increases.
Specifically, among Wall Street analysts participating in Kitco News' gold survey, 54% expect to see higher gold prices this week, 31% predict a decrease in prices. Meanwhile, 45% of retail investors participating in online polls expect gold to rise this week, with 41% predicting lower prices. Retail investors expect gold to trade around $1,872/ounce this week, $64 lower than last week's forecast, but $23 higher than the current spot price.
Everett Millman, market analyst at Gainesville Coins, said gold's recent decline is mainly due to seasonal factors. He forecasts that this precious metal will start the fourth quarter with increases.
Note
BUY XAU 1842 - 1844TP1: 1852
TP2: 1856
SL: 1832
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