Shinobi - XAUUSD: Optimistic investors, cautious experts
World gold price this morning tended to increase with spot gold increasing by 1.3 USD compared to last week's closing level to 1,914.4 USD/ounce.
Last week, gold saw its second biggest weekly loss in a row as it fell about 1% for the week after US consumer price index (CPI) and producer price index (PPI) reports showed inflationary pressures. broadcast is still there. The precious metal has been confined to the neutral range by mixed sentiment around whether interest rates have peaked or more rate hikes remain.
The latest gold price survey shows that investors expect gold prices to achieve solid gains in the week ending August 18. Meanwhile, market analysts remain cautious as they wait for clear information from economic indicators and technical trends.
XAUUSD
BUY 1909 - 1911
TP1: 1915
TP2: 1920
SL: 1903
Last week, gold saw its second biggest weekly loss in a row as it fell about 1% for the week after US consumer price index (CPI) and producer price index (PPI) reports showed inflationary pressures. broadcast is still there. The precious metal has been confined to the neutral range by mixed sentiment around whether interest rates have peaked or more rate hikes remain.
The latest gold price survey shows that investors expect gold prices to achieve solid gains in the week ending August 18. Meanwhile, market analysts remain cautious as they wait for clear information from economic indicators and technical trends.
XAUUSD
BUY 1909 - 1911 TP1: 1915
TP2: 1920
SL: 1903
Comment:
Adrian Day, President of Adrian Day Asset Management, believes gold will post some gains this week. “There is still a tension between the negative factor that is likely to raise interest rates and the positive factor that is the possibility that the rate hike is coming to an end, before inflation is tame... When sentiment changes, gold could raise prices significantly," he said.
Comment:
Meanwhile, Colin Cieszynski, chief market strategist at SIA Wealth Management, thinks gold will continue its recent downtrend. “I expect gold prices to fall this week. The continued rise in 10-year US Treasury yields along with the greenback will create a headwind for gold. The next big event that the market needs to watch out for is the Jackson Hole Conference which will take place in two weeks. Until then, gold will move against the greenback and not much else will happen," Cieszynski said.
Comment:
The risks for the precious metal this week are the US retail sales for July on Tuesday morning and the minutes of the Fed's latest meeting on Wednesday afternoon, which should give the market an idea of who is going. consumer and how the Fed "feels" about the economy.
