Where will gold prices go?
Updated
Hello dear friends! Do you think the price of gold will increase or decrease this week?
Last week, gold prices continued to decline and it has not stopped as it opened the week with a drop of nearly 6 USD, trading around 1998 - 1999 USD.
The strength of the US dollar is expected to continue posing a challenge for gold, as the latest employment data released last week was a "wake-up call" to the expectations of a rate cut by the Federal Reserve.
Furthermore, upcoming economic forecasts for the US, including interest rate projections at the next policy meeting, have the potential to threaten the gold market and serve as a major psychological factor for investors, leading some to sell gold regardless.
Speaking of the next trend: Out of 15 analysts surveyed about gold, only 20% predict an increase in gold prices in the near future. 53% of analysts predict a decrease in prices, while the remaining 27% believe that gold prices will remain stable.
And you, what do you think about gold?
Last week, gold prices continued to decline and it has not stopped as it opened the week with a drop of nearly 6 USD, trading around 1998 - 1999 USD.
The strength of the US dollar is expected to continue posing a challenge for gold, as the latest employment data released last week was a "wake-up call" to the expectations of a rate cut by the Federal Reserve.
Furthermore, upcoming economic forecasts for the US, including interest rate projections at the next policy meeting, have the potential to threaten the gold market and serve as a major psychological factor for investors, leading some to sell gold regardless.
Speaking of the next trend: Out of 15 analysts surveyed about gold, only 20% predict an increase in gold prices in the near future. 53% of analysts predict a decrease in prices, while the remaining 27% believe that gold prices will remain stable.
And you, what do you think about gold?
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