Weekly Gold Analysis
Kitco's weekly assessment shows that as financial markets fluctuate, small investors are optimistic about the future of the gold market. However, market traders believe that traders should not focus on gold and should instead focus on silver. Last week, the price of silver rose by nearly 7%. Most of last week's silver gains were made on Thursdays and Fridays.
This week, 16 Wall Street activists took part in the weekly Kitco News review. Fifty-six percent of respondents predict that the global gold ounce trend will be bullish. Another 19 percent predict a downward trend and another 25 percent predict a market without a trend. The focus of market participants on silver price movements has also reduced the participation of small investors (Main Street). Less than 1,000 people took part in the Kitco online poll this week. 62% were in favor of the uptrend, 21% were in favor of the downtrend and 18% were in favor of the neutral trend.
Last week, small investors and market traders expected the price of an ounce of global gold to rise. However, the market has ended without significant change.