The future trend of precious metal prices remains uncertain, with experts split on whether to invest or stay away. Last week, spot gold prices closed at $2,326 an ounce, marking three consecutive quarters of growth with a 4% increase in the second quarter. Despite this growth, highly volatile sessions saw prices swing by tens of USD.
Looking ahead to this week, a survey conducted by Kitco News revealed mixed opinions among bank managers, analysts and investors. Half of those surveyed chose to stay on the sidelines, while 17% predicted a decrease and 33% expected an increase in gold prices.
Some analysts are pessimistic about the market next week, citing the price falling below the 50-day moving average as a cause for concern. However, others believe that the rebound in gold prices after a recent decline indicates potential for further growth in the market.
The US financial market will be closed for the National Day holiday on July 4th and important data such as the June employment report and production index will be released. Despite this uncertainty and fragility in the market, experts continue to closely monitor various economic indicators and geopolitical events for any potential impact on precious metal prices.
