❤️ Hello all traders. Hope you have a nice weekend. Here is some gold information next week
➡️ The ongoing surge in gold prices is likely to persist, given the persistent tensions in the Middle East. Commodity strategist Daniel Ghali from TD Securities Company has pointed out that the potential for increased gold acquisitions remains high if the Middle East conflict escalates further, as gold has traditionally served as a reliable "safe haven" for preserving capital, especially in the face of a strengthening USD and escalating geopolitical concerns.
➡️ Consequently, numerous forecasts anticipate a continued uptrend in gold prices for the upcoming week. In a survey conducted by Kitco News involving 11 Wall Street analysts, 6 of them expressed optimism about gold's price increase. Meanwhile, 3 analysts anticipate a decline in precious metal values, and 2 expect gold to remain relatively stable.
➡️ The ongoing surge in gold prices is likely to persist, given the persistent tensions in the Middle East. Commodity strategist Daniel Ghali from TD Securities Company has pointed out that the potential for increased gold acquisitions remains high if the Middle East conflict escalates further, as gold has traditionally served as a reliable "safe haven" for preserving capital, especially in the face of a strengthening USD and escalating geopolitical concerns.
➡️ Consequently, numerous forecasts anticipate a continued uptrend in gold prices for the upcoming week. In a survey conducted by Kitco News involving 11 Wall Street analysts, 6 of them expressed optimism about gold's price increase. Meanwhile, 3 analysts anticipate a decline in precious metal values, and 2 expect gold to remain relatively stable.
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Cooling inflation will likely cause the Federal Reserve (Fed) to pause interest rate increases in the coming months. That's why analysts and traders are waiting for the results of next week's Fed meeting.
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Some analysts warn that investors should be careful with gold prices in the region of 2,000 USD/ounce because the market may adjust downwards based on the Fed's monetary policy stance, which could keep interest rates high in the meantime. longer period.
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The Fed's interest rate decision on Wednesday will be the most anticipated economic event this week with 94.2% predicting the central bank will keep interest rates unchanged. This week the market also receives the October non-farm payrolls report on Friday.
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Despite some lingering impacts, safe-haven demand remains supported by political uncertainty and debt concerns. Gold regained the 2,000 mark that has not been reached in the past two months. Rising gold prices also reflect the growing risk that the US economy faces a potential debt spiral, when rising interest rates mean increased borrowing costs and increased capital needs.
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