Positive Signals Emerge in Gold Market
According to the latest Kitco News weekly gold survey, bullish sentiment on gold is returning among Wall Street analysts, while retail investors have also maintained a moderately positive outlook for three consecutive weeks. This trend indicates a gradual recovery of market confidence in gold.
Rich Checkan, President and Chief Operating Officer of Asset Strategies International, noted that no significant changes in the fundamentals of the gold market have occurred to justify the previous correction. He emphasized that such price adjustments are healthy and predicted that gold prices would soon resume an upward trend.
Geopolitical Risks Support Gold Prices
Darin Newsom, Senior Market Analyst at Barchart.com, mentioned that the Supreme Court's rejection of Trump's tariff policy might affect market sentiment and increase the likelihood of geopolitical tensions. This uncertainty provides support for gold prices.
Adrian Day, President of Adrian Day Asset Management, believes that gold prices may have already hit a low point following the sell-off in late January and are showing clear signs of recovery. He pointed out that market participants are generally reluctant to sell before the weekend due to concerns about potential U.S. actions.
Short-Term Volatility Won't Affect Long-Term Trend
Although gold prices may experience a slight decline on Monday, analysts generally agree that the short-term recovery trend is already very clear as long as the geopolitical situation does not escalate further. Investors should focus on the long-term fundamentals rather than short-term fluctuations.