Gold trading strategy on the evening of August 28
Gold posted modest gains last week and ended a four-week losing streak. Gold remains resilient despite US Federal Reserve Chairman Jerome Powell signaling on Friday that the central bank will maintain its 2% inflation target and not look to cut interest rates anytime soon.
Forecasting the gold price trend this week, the latest Kitco News gold survey results show that most retail investors expect gold prices to increase in the week ending September 1. Meanwhile, market analysts still need to be cautious into the last weekend of August.
The Gold Survey chooses mixed views among Analyst Walls. Specifically, among analysts who consulted Kitco News' gold survey, 42% expect gold prices to be higher this week and 42% expect gold prices to fall. Meanwhile, the opinion of retail investors shows a clearer picture for gold this week with 69% of people taking an online visit predicting gold will rise this week.
XAUUSD SELl LIMIT 1921 - 1923🕯
✅ TP1: 1915
✅ TP2: 1908
⚠️ SL: 1931
Forecasting the gold price trend this week, the latest Kitco News gold survey results show that most retail investors expect gold prices to increase in the week ending September 1. Meanwhile, market analysts still need to be cautious into the last weekend of August.
The Gold Survey chooses mixed views among Analyst Walls. Specifically, among analysts who consulted Kitco News' gold survey, 42% expect gold prices to be higher this week and 42% expect gold prices to fall. Meanwhile, the opinion of retail investors shows a clearer picture for gold this week with 69% of people taking an online visit predicting gold will rise this week.
XAUUSD SELl LIMIT 1921 - 1923🕯
✅ TP1: 1915
✅ TP2: 1908
⚠️ SL: 1931
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