The moment that will determine the fate of gold price has come! The US PCE data may trigger violent fluctuations. How to trade gold price?
#Gold Technical Analysis# 24K99 News, during early European trading on Friday (June 28th), spot gold was trading near $2325 per ounce.
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Here's why the price of gold suddenly surged nearly $30! Will the US PCE inflation ignite the situation? How will gold move?
On Thursday, the expectation that the Federal Reserve will begin to cut interest rates this year due to weak economic data put pressure on the US dollar and sent spot gold up nearly $30. Phillip Streible, chief market strategist at Blue Line Futures, said some of the data that has been released supports the gold market, basically due to wholesale inventories lower than expected, final GDP significantly declining, lowering the US dollar index and boosting gold prices. On Friday, investors will welcome the heaviest economic data of the week - US PCE inflation data, which is expected to trigger a major market reaction.
BMO raises forecast: Gold price is bottoming out, gold and silver will rise before the end of the year!
Analysts say that gold is returning to the global currency system and this will be a long-term trend for the next decade.
The gold market is about to explode! USA GDP is coming, how to trade after the gold price drops?
#Gold Technical Analysis# 24K99 News on Thursday (June 27), spot gold hovered around $2300/ounce in the early European market after a sharp drop yesterday.
Gold is still in a 'dangerous period,' according to a well-known institution, and the price of gold may have nearly 30 dollars of downside risk.
On Thursday, June 27th, spot gold hovered around $2,300 per ounce in early European trading.
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Major changes have occurred in the technical aspect of gold! The bears are targeting these goals. FXStreet analyst's gold price technical analysis.
#Gold Technical Analysis# 24K99 News: In early European trading on Wednesday, spot gold continued to be under pressure, currently around $2314 per ounce; earlier, the price of gold fell to $2309.58 per ounce, hitting a new intraday low.
Beware of the Federal Reserve's "Big Eagles" triggering a violent sell-off in gold! FXStreet senior analyst's analysis of gold trade.
#Gold Technical Analysis# 24K99 News On Tuesday (June 25th) during early European trading, spot gold maintained its downward trend for the day with current prices near $2324/ounce, down more than $10 for the day.
Silver awaits major breakout situation! Renowned institutions: if confirming the breakthrough of this support, silver prices are expected to fall by more than 2%
In early European trading on Tuesday, spot silver continued to be under pressure, with silver price currently around $29.50 per ounce. According to Economies.com, if silver price confirms breaking through the resistance of $29.30 per ounce, this will open up further space for silver price to drop.
Debt concerns or support for a bull market in gold, Bank of America predicts that it could reach $3000 within 18 months.
As long as the market is in an environment more prone to inflation, the "preventive" demand for gold seems to continue.
Could still rise nearly 30%! Bank of America called out a super high target price: gold may rise to $3000 next year.
Bank of America analysts predict that the price of gold may soar and is expected to reach $3,000 per ounce within the next 12 to 18 months. Michael Widmer, Bank of America's chief csi commodity equity index strategist, wrote in a report to clients that investment demand, geopolitical tensions, rate cuts, and central bank purchases of gold could all boost the price of gold.
Citi and Bank of America Merrill Lynch are both bullish: gold prices are expected to rise to $3000 in the next year.
Strong physical demand, central bank purchases, as well as macro factors such as concerns about US bonds and the Fed's interest rate cuts, will support the rise in gold prices.