Gold prices rebounded today due to the upbeat sentiment in the market and bond returns.
However, some analysts warn that there is still not enough momentum to overcome important resistance levels because a lot of information is not very positive for the gold market.
Gold continued to decline in aging as solid labor market data and good economic health eased fears that the US economy is heading for a severe recession. At the same time, higher wages could force the US Federal Reserve (Fed) to maintain positive monetary policies and raise interest rates higher.
Kitco News' latest weekly gold survey shows Wall Street analysts tend to be slightly bullish, while Main Street retail investor sentiment is evenly balanced. Optimism increased after two weeks of bearish sentiment in the market.
However, some analysts warn that there is still not enough momentum to overcome important resistance levels because a lot of information is not very positive for the gold market.
Gold continued to decline in aging as solid labor market data and good economic health eased fears that the US economy is heading for a severe recession. At the same time, higher wages could force the US Federal Reserve (Fed) to maintain positive monetary policies and raise interest rates higher.
Kitco News' latest weekly gold survey shows Wall Street analysts tend to be slightly bullish, while Main Street retail investor sentiment is evenly balanced. Optimism increased after two weeks of bearish sentiment in the market.
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