Gold prices stuck below $2,000 next week as bullish sentiment remains lackluster gold bullish Fed
- Gold prices could remain in neutral territory in the near term, unable to push to $2,000 an ounce as the marketplace sees lackluster bullish sentiment.
Ole Hansen, head of commodity strategy at Saxo Bank, said that gold's bounce ahead of the weekend shows there is a solid bid in gold; however, he added that the precious metal lacks the spark to trigger a more significant rally. "The daily chart for August gold is showing a generally sideways pattern, if we discount Thursday's spike low. Given this, I would expect the contract to stay between the recent high of $1,986 and low of $1,953 and wait for a clear breakout," he said.
Michele Schneider, director of trading education and research at MarketGauge, said she is bullish on gold as inflation remains a threat.
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