The price of gold is predicted to continue falling rapidly until
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Wall Street analysts are less optimistic about gold prices next week due to concerns that U.S. inflation will be higher than expected.
Global spot gold prices fell last week after a hot day due to the political conflict between Israel and Hamas since early October. The precious metal remained above $1,930 an ounce, but failed to cross the threshold. Mental resistance is $2,000.
A Kitco News survey of 12 Wall Street analysts and 319 retail investors found that these two groups have different expectations for gold prices next week.
In contrast to the previous week's positive sentiment, most analysts predicted a negative outcome for gold in the short term.
Global spot gold prices fell last week after a hot day due to the political conflict between Israel and Hamas since early October. The precious metal remained above $1,930 an ounce, but failed to cross the threshold. Mental resistance is $2,000.
A Kitco News survey of 12 Wall Street analysts and 319 retail investors found that these two groups have different expectations for gold prices next week.
In contrast to the previous week's positive sentiment, most analysts predicted a negative outcome for gold in the short term.
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XAUUSD SELL 1938-1940TP1 1931
TP2 1924
SL 1947
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