Even in a market environment with rising inflationary pressures, ultra-compliant monetary policy, and a government willing to spend more, disappointment enters the gold market as gold prices cannot rise above $ 1.800 yellow. Here are the gold price predictions from analisdollarser for the next week …
Bob Haberkorn: Now is not the time to throw a towel for gold
According to the latest Kitco News Weekly gold survey, analisdollarser warns investors that if gold fails to rise in this current environment, lower prices will be close. However, many analysts say retesting recent support could add new buying momentum to the market. “Now is not the time to throw a towel for gold,” said Bob Haberkorn, senior commodity broker at Rjo Futures. Gold is struggling right now, but at some point it will spend the day in the sun. ” said.
The gold market has seen a dramatic shift in sentiment as prices could not break above the critical resistance of $ 1,800 per ONS. Two weeks ago, the Kitco News Gold survey did not see a down vote among the series of Wall Street analysts for the first time. This week, for the first time in survey history, there was no bullish vote for gold. Ole Hansen, head of commodity strategy at Saxo bank, said, “Gold is doing what it does best… It makes gold investors nervous. ” said.
Analisdollarser: Gold prices may fall in yellow next week!
This week, 15 analysts took part in Kitco News’ gold survey. Of these, eight analysts, or 53%, said the gold price would drop. The remaining seven analysts, ie 47%, said they were neutral on prices next week. Meanwhile, a total of 954 votes were cast on the online Main Street ancestral series. 512 of them, ie 54%, expect gold to increase next week. Another 249 people, or 26%, expected lower levels, while 193 voters or 20% were neutral.
Some analisdollarser point out that gold’s ONS cannot go above $ 1,800. However, the gold managed to find a strong initial support above $ 1,750 per ONS. Gold futures in June are 0% compared to last week. It traded at $ 1.765.90 / ONS with a drop of 61. Looking beyond the headlines in the gold market, sentiment has declined, with many analysts saying they will try to buy gold at a lower price. Adrian Day Asset Management President Adrian Day said:
Gold needs to test the $ 1,745 level, which is the ceiling for the last two months when it came out earlier in the month. The sooner gold tests this new base, the better. Very positive for gold in the long run, now quite obvious with rising inflation, but a Federal Reserve refuses to do anything about it.
Marc Chandler: 1.If $ 750 is not held, the next level I watch is 1.724 dollars.
The question many analysts are asking right now is how low the gold prices could be in the near term. Marc Chandler, Managing Director of Bannockburn Global Forex, He said that if $ 1. 750 is not held, the next level it is watching is $ 1. 724. Marc Chandler said:
Momentum indicators such as the MACD and the Slow Stochastic seem set to fall. Gold prices yellow are 38% of the April rally. It has already approached the $ 1.752 area, which holds its 2 retracement.
Bob Haberkorn: Gold prices face tough competition if yellow
Rjo Futures’ senior commodity broker Bob Haberkorn says that although he sees long-term potential for gold, the precious metal will struggle as it faces tough competition with copper, timber, stocks, and even bitcoin. Because Bob Haberkorn said that he saw a significant upward momentum in these markets. Bob Haberkorn said:
There is a strong sense of risk taking in the market right now, and nobody wants to hold gold and sit on it. Investors are seeing other exciting places in the commodity markets to invest their money.