Kitco gold returns to above 4000 dollars, analysts are divided on the continuation of the upward trend.
🔹CPM Institute recommends buying gold with an initial target of $4,275 and a loss limit of $3,970 for the period between November 5 and 20. As the price stabilizes and rises slowly, the likelihood of a jump up increases.
John Weir is coming up.
The $3,900-$4,000 range has a good chance of holding support, and political uncertainties could increase demand for gold.
🔹Adam Batten Ascendant.
Referring to the good performance of gold in the fluctuations of the stock market, he believes that a favorable seasonal period for gold has begun.
🔹 Adrian Day short-term bear.
The post-election optimism is overblown, and gold may give back much of its recent gains.
Mark Chandler is careful.
This still does not confirm the formation of the final gold bottom. A break of $3,975 could increase the probability of a decline to $3,935 support.
🔹Michael Moore goes down.
For next week, he predicts that the price will decrease, unless the technical structure of the market improves.
📅 Important events of the week ▪️ Tuesday: US consumer inflation (CPI).
▪️ Thursday: Unemployment insurance in the US.
▪️ Friday: US producer inflation (PPI).