XAUUSD-Heading towards weekly gains as US unemployment rate rise
Gold price this morning remained at 1,939.6 USD/ounce when the US market was closed during the Laos holiday.
Over the last week, gold has gained more than 1.25% thanks to the non-farm payrolls report released Friday showing rising unemployment and the ISM manufacturing index for US industry continuing to decline. weak.
Kitco News's latest weekly gold survey shows that more than two-thirds of retail investors expect gold prices to increase in the week ending September 8. And after weeks of caution and mixed opinions, market analysts are also bullish on the precious metal.
Specifically, among Wall Street analysts consulting Kitco News' gold survey, 64% forecast gold prices will rise higher this week. 67% of retail investors taking online tours of Main Street share the same opinion. The latest survey of retail investors expects gold prices to trade around $1,962/ounce this week.
I see gold rallying in the near term, but that doesn't mean we can't get active and retest $1,900 an ounce again.
Over the last week, gold has gained more than 1.25% thanks to the non-farm payrolls report released Friday showing rising unemployment and the ISM manufacturing index for US industry continuing to decline. weak.
Kitco News's latest weekly gold survey shows that more than two-thirds of retail investors expect gold prices to increase in the week ending September 8. And after weeks of caution and mixed opinions, market analysts are also bullish on the precious metal.
Specifically, among Wall Street analysts consulting Kitco News' gold survey, 64% forecast gold prices will rise higher this week. 67% of retail investors taking online tours of Main Street share the same opinion. The latest survey of retail investors expects gold prices to trade around $1,962/ounce this week.
I see gold rallying in the near term, but that doesn't mean we can't get active and retest $1,900 an ounce again.
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Today is a bank holiday so we will trade Scalping today
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Running Buy
🟢TP1: 1949
🟢TP2: 1956
⚠️SL: 1933