Weekly Gold Outlook: Bullish Sentiment Returns

Hello everyone, let's take a look at what's noteworthy about gold prices this week!

As we open a new week, gold prices remain relatively unchanged, continuing to consolidate within a familiar trading range, currently around $2,910. The precious metal appears stable, waiting patiently for the next breakout signal.

Gold maintains a predominantly bullish outlook, holding firm at elevated levels thanks to a weakening USD. At the time of writing, the US Dollar Index, which measures the dollar against six major currencies, is trading at 103.810, down 0.21%.

Market sentiment this week has significantly shifted compared to last week, especially among financial experts. Previously, only 21% of experts predicted gold prices would rise, whereas 64% expected a decline. On the other hand, individual investors have notably changed their stance; those predicting higher gold prices rose from 45% to 67%, while those expecting a decline dropped from 28% to 18%.

Personally, I maintain a bullish expectation for gold this week. How about you?