How was the first gold trading at the beginning of the week?
Hello dear friends, it's great to meet again and chat in a new trading week!
Currently, the price of gold is slightly decreasing this morning, with gold trading at $1920, down about $12 from the previous trading session.
Last week, the gold market witnessed an impressive surge as the price of this precious metal increased by over $60 per ounce, thanks to strong safe-haven demand both at the beginning and end of the week. The decrease in US Treasury bond yields, weakening US dollar, and ongoing political instability continue to be factors driving the upward momentum of gold.
Regarding the gold price outlook for this week, market analysts and retail investors alike expect gold to continue its upward trajectory, with a target price of around $1950 by the end of October 20th, followed by further breakthroughs.
What are your thoughts? How do you think the gold market will move? Leave your comments below!
Currently, the price of gold is slightly decreasing this morning, with gold trading at $1920, down about $12 from the previous trading session.
Last week, the gold market witnessed an impressive surge as the price of this precious metal increased by over $60 per ounce, thanks to strong safe-haven demand both at the beginning and end of the week. The decrease in US Treasury bond yields, weakening US dollar, and ongoing political instability continue to be factors driving the upward momentum of gold.
Regarding the gold price outlook for this week, market analysts and retail investors alike expect gold to continue its upward trajectory, with a target price of around $1950 by the end of October 20th, followed by further breakthroughs.
What are your thoughts? How do you think the gold market will move? Leave your comments below!
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