Gold has been bullish in recent days and managed to climb above $1,800. Many experts said that gold is now focused on the upside movement. So, what levels might be next? Here are the golden comments of popular analysts
Gold comments from analysts: Will the upward movement continue?
Gold benefited from falling US Treasury bond yields and ended the week at around $1,820, its strongest level since early September, breaking above several key resistance levels, according to renowned gold analyst Eren Şengezer. According to the analyst, the XAU/USD pair is trying to extend its rally as technical indicators point to a bullish short-term outlook.
On the other hand, Bart Melek, Head of Global Strategy at TD Securities, expressed his latest thoughts on the US Nonfarm payrolls data and its impact on the gold price. According to the analyst, gold rose despite the unemployment rate falling to 4.6 percent in the US in October. According to the analyst, this means that labor force participation is still at problematically low levels and not close to full employment.
Melek thinks the Fed will “keep monetary policy fairly easily for a long time, as the US is not close to full employment.” “The Fed’s view is that keeping the economy warm will eventually trigger more people into the workforce,” Melek concludes her analysis. For more gold news cryptocoin.com Celebrity Analysts Shared Their Expectations for Gold! You can take a look at the article.
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