The world gold price is forecasted by investors to soon return to the price of $2,000/ounce despite the US Federal Reserve (Fed) raising interest rates by 25 percentage points on July 26.
However, analysts are more cautious, warning investors not to pour too much money into gold before the Fed decides to raise interest rates further.
James Stanley, market strategist at StoneX, predicts that gold prices will rise sharply, but then gold prices may fall unexpectedly after the Fed makes a decision to raise interest rates.
Last week, 19 Wall Street analysts participated in Kitco News' gold survey. In which, 42% of analysts believe that the gold price will increase in the near future, while 42% think that the price of gold will decrease. Meanwhile, 16% of analysts still think gold prices will move sideways.
XAUUSD SELL 1970- 1972💯💯
✅ TP1: 1964
✅ TP2: 1958
✅ TP3: 1950
🛑 SL: 1980
However, analysts are more cautious, warning investors not to pour too much money into gold before the Fed decides to raise interest rates further.
James Stanley, market strategist at StoneX, predicts that gold prices will rise sharply, but then gold prices may fall unexpectedly after the Fed makes a decision to raise interest rates.
Last week, 19 Wall Street analysts participated in Kitco News' gold survey. In which, 42% of analysts believe that the gold price will increase in the near future, while 42% think that the price of gold will decrease. Meanwhile, 16% of analysts still think gold prices will move sideways.
XAUUSD SELL 1970- 1972💯💯
✅ TP1: 1964
✅ TP2: 1958
✅ TP3: 1950
🛑 SL: 1980
