Latest gold price update: Continues to increase strongly!Hello everyone, let's dive into our strategy for the new week!
As the week kicks off, gold prices have impressively surged past $2432. Supported by the Dow Theory and the 34 EMA on the daily chart, the long-term outlook for gold remains positive.
Looking ahead:
Recent Kitco News surveys show strong optimism for gold. Out of 14 analysts, 11 predict a rise in gold prices, while only two foresee a decline, and one expects stability.
Investors, though more cautious, predominantly anticipate higher prices, with 58% of 149 surveyed expecting an increase, 21% predicting a decrease, and the remainder seeing stable prices.
The fall in both the US dollar index and US Treasury yields further supports a bullish trend for gold, potentially pushing prices towards a historic high of $2500 per ounce.