In the previous week, the price of spot gold rose by over 1.25%, reaching a closing rate of 1,940.75 USD per ounce at the end of the weekend session. This surge was driven by a nonfarm payrolls report which revealed an increase in unemployment and ongoing fragility in the US industrial production index.
According to Kitco News' most recent survey on gold, more than two-thirds of individual investors anticipate a rise in global gold prices for the upcoming week.
According to Kitco News' most recent survey on gold, more than two-thirds of individual investors anticipate a rise in global gold prices for the upcoming week.
Comment:
Marc Chandler - Managing Director at Bannockburn Global Forex also expects gold prices to increase this week.
Comment:
The Fed says it will need to consider a slowdown in the labor market as a condition for ending the current tightening cycle.
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