XAUUSD: Gold price forecastGold price forecast

Chantell Schieven, Head of Research at Capitalight Research, said that the gold market is starting to enter a period of seasonal weakness. In this environment, gold prices are likely to fall back to $2,150/ounce.

According to Marc Chandler, Managing Director at Bannockburn Global Forex, gold prices may decline in the short term. Gold prices can trade in the range of 2,250-2,260 USD/ounce.

However, some experts assess that gold demand is still increasing. Adam Button, Head of Currency Strategy at Forexlive, forecasts that Chinese demand will increase as the market returns to trading after the holiday.