XAUUSD : Gold will turn up again this week
Updated
XAU/USD is trading around 2,322 USD/ounce, down 11.6 USD/ounce compared to last week's result.
Adrian Day, of Adrian Day Asset Management, said gold prices are recovering after last week's sell-off amid dovish US economic news, weak inflation figures and higher unemployment claims, both support cuts
interest rate.
Colin Cieszynski, market strategist at SIA Wealth Management, said gold prices are poised for a technical bounce from support levels. Darin Newsom, senior market analyst at Barchart, said gold's next target is $2,370/ounce, followed by resistance at $2,391/ounce.
Adrian Day, of Adrian Day Asset Management, said gold prices are recovering after last week's sell-off amid dovish US economic news, weak inflation figures and higher unemployment claims, both support cuts
interest rate.
Colin Cieszynski, market strategist at SIA Wealth Management, said gold prices are poised for a technical bounce from support levels. Darin Newsom, senior market analyst at Barchart, said gold's next target is $2,370/ounce, followed by resistance at $2,391/ounce.
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