Wall Street remains bullish on gold prices, but caution is still needed due to market volatility.
10 analysts participated in the prediction of next week's gold price. 9 (90%) expect the international gold price to rise further in the coming week, while 1 (10%) expects it to fall. 150 retail traders (68%) forecast that the international gold price will continue to rise next week, 38 (17%) predict a pullback, and 34 (15%) think there might be a period of volatility.
Some analysts also warn that, technically, the international gold price may be forming a head-and-shoulders top pattern. If it fails to reach new highs, the price could decline again, possibly dropping to around $3,300 per ounce. Next week, the Federal Reserve meeting minutes will be released, which will directly indicate how the Fed is balancing persistent inflation against signs of slowing economic growth.
Editor | Jiao Yang Layout | Jiao Yang Visuals | Zhang Zongwei
Proofreading | Wang Bei Review | Ni Jinhe
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ-IIFL Finance rallies to a two-month high, boosted by Blackstone deal
The “outlier” in the AI capital expenditure frenzy: Apple (AAPL.US) keeps spending flat, accounting for less than 5% of sales
Apple continues to stand out among major tech peers, largely avoiding the aggressive wave of capital expenditure associated with artificial intelligence (AI) infrastructure.
Youth Employment Declines for 48 Consecutive Months: Behind the Semiconductor Boom, Young South Koreans Are Being Left Behind by the Times
In South Korea, the unemployment rate in October fell to a three-year low of 2.5%. However, the number of employed people decreased by 50,000, youth employment has declined for 48 consecutive months, and domestic demand remains weak.
Crypto prices
More
