Price reduction in the face of increasing interest rate pressure

Kitco's weekly gold search survey results show that 50% of analysts think gold prices will fall this week; 41% think prices will increase. Meanwhile, 42% of retail investors expect prices to fall; 41% think cockroaches will increase. The pessimism among retail investors is at its highest level since mid-February.

According to experts, in the coming time, the gold market needs to carefully monitor macroeconomic data, especially reports on labor and employment.

While rising interest rates increase the opportunity cost of holding gold and support the dollar, the Fed's aggressive stance could also push the world closer to recession.

A Kitco News survey shows that Wall Street and Main Street analysts agree that gold prices will tend to decline in the near future.

SELL GOLD 1928 - 1930 💯💯

✅ TP1: 1922
✅ TP2: 1916
✅ TP3: 1910

🛑 SL: 1938

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