Gold continue to be affected by war news, should you buy or sell
Kitco News's latest weekly gold survey shows that market analysts and retail investors expect gold to continue to increase in price in the week ending October 20.
Specifically, among Wall Street analysts who consulted the survey, 72% forecast that gold prices will increase this week. 72% of retail investors who participated in Main Street virtual tours shared the same view. Retail investors expect gold to trade around 1,902 USD/ounce, 60 USD higher than last week's expectations, but also 30.5 USD lower than the current trading price.
Colin Cieszynski, market strategist at SIA Wealth Management, expressed optimism about gold prices. He said that falling US Treasury bond yields, the weakening USD and geopolitical uncertainties continue to be factors driving gold's rise.
Specifically, among Wall Street analysts who consulted the survey, 72% forecast that gold prices will increase this week. 72% of retail investors who participated in Main Street virtual tours shared the same view. Retail investors expect gold to trade around 1,902 USD/ounce, 60 USD higher than last week's expectations, but also 30.5 USD lower than the current trading price.
Colin Cieszynski, market strategist at SIA Wealth Management, expressed optimism about gold prices. He said that falling US Treasury bond yields, the weakening USD and geopolitical uncertainties continue to be factors driving gold's rise.
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