Gold price today: Forecasted to continue to increase sharply?

Hello dear friends, let's learn about gold prices in the new week!

Currently, gold is continuing to adjust after a strong price increase over the last two days of last week. This metal is trading around 2,358 USD in the first trading hours of the second day and down 0.11% on the day.

Accordingly, the correction is taking place according to the basic wave structure, so there is nothing too worrying about the metal's ability to continue to recover.

In terms of outlook: Gold targets the 2045 USD range to test the EMA line as well as complete the correction wave around the 0.5-0.618 Fibonacci level followed by a price increase again according to Dow theory.

Regarding forecasts: Of the 17 analysts who participated in the survey, 10 experts, or 59%, expect to see gold prices move higher next week; while only 2 analysts, accounting for 12%, predict prices will decrease. The remaining five experts, or 29% of the total, see gold trending sideways.

Comment:

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