World gold prices were under pressure last week from USD
World gold prices were under pressure last week when the USD index increased. Recorded at 7:00 a.m. on December 8, the US Dollar Index measuring the fluctuation of the greenback with 6 major currencies was at 106,040 points (up 0.32%).
Kitco News's latest survey shows that experts continue to be divided, while individual investors are optimistic about gold prices next week.
“I expect gold prices to rise next week, as long as the $2,600/ounce level holds. Three central banks in the G10 group will cut interest rates and the market predicts two banks (the Bank of Canada and the Swiss National Bank) may cut interest rates by 25 basis points" - Marc Chandler - CEO Executive at Bannockburn Global Forex - said.
"The downtrend line from the record high in late October will be near $2,680 an ounce on Monday and fall to around $2,660 an ounce by the end of next week," he added.
🔥
GOLD SELL 2657 - 2659🔥
💵 TP1: 2650
💵 TP2: 2640
💵 TP3: OPEN
🚫 SL: 2670
Kitco News's latest survey shows that experts continue to be divided, while individual investors are optimistic about gold prices next week.
“I expect gold prices to rise next week, as long as the $2,600/ounce level holds. Three central banks in the G10 group will cut interest rates and the market predicts two banks (the Bank of Canada and the Swiss National Bank) may cut interest rates by 25 basis points" - Marc Chandler - CEO Executive at Bannockburn Global Forex - said.
"The downtrend line from the record high in late October will be near $2,680 an ounce on Monday and fall to around $2,660 an ounce by the end of next week," he added.
🔥
GOLD SELL 2657 - 2659🔥💵 TP1: 2650
💵 TP2: 2640
💵 TP3: OPEN
🚫 SL: 2670
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