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

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(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 […]

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