Last week, the world gold price experienced a decline from its all-time high of $2,080 per ounce. However, market experts remain optimistic about the future of the industry. Gold is still deemed a lucrative investment option, second only to real estate.
As per the World Gold Council, central bank gold demand is anticipated to grow in the long run. In the first quarter of 2023, central banks purchased a record-breaking 228 tons of gold. A survey conducted on Wall Street with 19 analysts revealed that 42% of them predict an increase in gold prices in the near future, while 42% predict a decline. The remaining 16% believe that the gold price will remain stable in the coming days.
Despite a 2% drop in the last session of the week, the gold price still stands above $2,000 per ounce. With investors remaining optimistic, the gold market is expected to rise at any given moment.
Trading plan
SELL GOLD soup price range : 2019 - 2021
Stoploss : 2024
Take Profit : 2005 Take Profit : 1990
BUY GOLD soup price range: 1989 - 1991
Stoploss : 1986
Take Profit : 2015 Take Profit : 2040
Note : TP, SL full to be safe and win the market !