Gold price has room to go higher after holding critical support – analysts

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

(Kitco News) – Near-term sentiment in the gold market remains firmly bullish as the market continues to crawl its way higher after starting the week with the worst one-day drop in seven years.

According to the latest Kitco News Weekly Gold Survey, a clear majority of Wall Street Analysts and Main Street investors are bullish on gold next week. The sentiment comes as gold prices were able to hold critical support at $1,850 an ounce after declining more than 5% Monday.

The selloff Monday came as Pfizer and BioNTech announced a potential vaccine for the COVID-19 virus. Although there is hope on the horizon and the world can get past the virus, analysts have noted that it will take time […]

Click here to view original web page at www.kitco.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.