HomeFinance NewsWall Street and Main Street lose confidence in gold prices.

Wall Street and Main Street lose confidence in gold prices.

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The price of gold was initially boosted by demand for safe-haven assets due to Middle East conflict and anticipation of future interest rate cuts. However, as the week progressed, a series of hawkish central bank comments and lack of energy boosts from geopolitics weakened gold’s appeal for investors. Institutional experts and retail traders are showing diverging views for the precious metal’s price prospects for the next week.

Market analysts provided a variety of viewpoints on gold’s outlook for the coming week. Some experts expressed bearish sentiment, citing factors such as rising treasury yields and a strengthening US dollar. Meanwhile, others remained bullish, citing conflict in the Middle East and their negative market analysis. Furthermore, the upcoming central bank rate decisions and US economic data releases are expected to play a significant role in determining gold’s price direction next week.

Retail investors generally mirrored the views of the experts, with a nearly equal number of respondents expecting gold to either rise, drop, or remain neutral. Despite the uncertain outlook for gold, investors are also closely monitoring the potential impact of ongoing geopolitical conflicts and upcoming central bank rate decisions on the precious metal. Finally, technical analysis suggests that gold may experience downward pressure in the coming week, with the potential to test lower levels, leaving the market in anticipation of next week’s price action.

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