World gold prices increased in the context of a sharp decline in the USD index in recent days and continuous gold purchases by central banks around the world.
Gold prices turned positive for the week early Wednesday morning as the US April CPI report showed an improvement over the previous month. By Friday, the bullish trend had returned sending gold prices in excess of $2,400 an ounce.
And after surpassing $2,400 per ounce, Wall Street experts believe gold prices this week could reach or exceed all-time highs.
The latest weekly survey by Kitco News shows that Wall Street is maintaining a strong bullish sentiment on gold. Up to 11 out of 14 analysts forecast that gold prices will continue to increase. Only 2 analysts expect prices to decline and some experts expect the market to move sideways.
Individual consultants are more cautious but still lean towards the possibility of this precious metal going up. Specifically, 58% of 149 people asked about the price increase. 21% were predicted to decrease and the remaining number was redefined.
According to analysis, the decline in the USD index on the international market and the decline in US government bonds have supported gold prices towards the peak area. After surpassing the 2,400 USD/ounce area, gold prices may continue to increase, even towards the 2,500 USD/ounce area - a new high in history.
Gold prices turned positive for the week early Wednesday morning as the US April CPI report showed an improvement over the previous month. By Friday, the bullish trend had returned sending gold prices in excess of $2,400 an ounce.
And after surpassing $2,400 per ounce, Wall Street experts believe gold prices this week could reach or exceed all-time highs.
The latest weekly survey by Kitco News shows that Wall Street is maintaining a strong bullish sentiment on gold. Up to 11 out of 14 analysts forecast that gold prices will continue to increase. Only 2 analysts expect prices to decline and some experts expect the market to move sideways.
Individual consultants are more cautious but still lean towards the possibility of this precious metal going up. Specifically, 58% of 149 people asked about the price increase. 21% were predicted to decrease and the remaining number was redefined.
According to analysis, the decline in the USD index on the international market and the decline in US government bonds have supported gold prices towards the peak area. After surpassing the 2,400 USD/ounce area, gold prices may continue to increase, even towards the 2,500 USD/ounce area - a new high in history.
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