Retail investors maintain bullish outlook on gold, but Wall Street analysts expect continued downtrend
Posted: Sun Nov 12, 2023 9:51 pm
Retail investors maintain bullish outlook on gold, but Wall Street analysts expect continued downtrend
Read more here:
https://www.kitco.com/news/2023-11-10/R ... trend.html
(Kitco News) - Gold trended steadily downward this week after riding the Israel-Hamas geopolitical risk bid higher since early October. The precious metal has held above $1,930 per ounce, but hasn't come close to testing the psychological resistance level of $2,000 since last Friday as the Middle East conflict has remained contained amid ongoing ground operations.
The latest Kitco News Weekly Gold Survey sees retail investors maintaining a bullish bias for the coming week, while market analysts have turned firmly bearish in their assessment of the yellow metal's near-term prospects.
John Weyer, Director of the Commercial Hedge Division at Walsh Trading, said gold's safe haven bid is waning.
Read more here:
https://www.kitco.com/news/2023-11-10/R ... trend.html
(Kitco News) - Gold trended steadily downward this week after riding the Israel-Hamas geopolitical risk bid higher since early October. The precious metal has held above $1,930 per ounce, but hasn't come close to testing the psychological resistance level of $2,000 since last Friday as the Middle East conflict has remained contained amid ongoing ground operations.
The latest Kitco News Weekly Gold Survey sees retail investors maintaining a bullish bias for the coming week, while market analysts have turned firmly bearish in their assessment of the yellow metal's near-term prospects.
John Weyer, Director of the Commercial Hedge Division at Walsh Trading, said gold's safe haven bid is waning.