Gold prices were trading at $1,939.6 an ounce this morning as the US market was closed for the Labor Day holiday.
Gold rose more than 1.25% last week as Friday's non-farm payrolls data showed rising unemployment and the ISM manufacturing index showed continued US industrial growth. weakness.
According to Kitco News' latest weekly gold survey, more than two-thirds of his retail investors expect gold prices to rise in the week ending September 8. And after weeks of caution, market analysts are also bullish on precious metals. Specifically, 64% of Wall Street analysts who took part in Kitco News' gold survey expect the price of gold to rise this week. A similar view was shared by 67% of retail investors who took part in a Main Street online poll. According to the latest survey, retail investors expect gold prices to hover around $1,962 an ounce this week.
Adrian Day, CEO of Adrian Day Asset Management, believes the price of gold will rise in the near future. Day said recent data seemed to back gold. He explained that recent economic reports show the global economy is slowing. He said the market is pricing in the end of the U.S. rate hike cycle.
Gold rose more than 1.25% last week as Friday's non-farm payrolls data showed rising unemployment and the ISM manufacturing index showed continued US industrial growth. weakness.
According to Kitco News' latest weekly gold survey, more than two-thirds of his retail investors expect gold prices to rise in the week ending September 8. And after weeks of caution, market analysts are also bullish on precious metals. Specifically, 64% of Wall Street analysts who took part in Kitco News' gold survey expect the price of gold to rise this week. A similar view was shared by 67% of retail investors who took part in a Main Street online poll. According to the latest survey, retail investors expect gold prices to hover around $1,962 an ounce this week.
Adrian Day, CEO of Adrian Day Asset Management, believes the price of gold will rise in the near future. Day said recent data seemed to back gold. He explained that recent economic reports show the global economy is slowing. He said the market is pricing in the end of the U.S. rate hike cycle.
TP1 : 1945
TP2 ; 1950
SL : 1932