Retail traders and market experts see little downside for gold next week as inflation takes center stage
- The most dramatic moves in the gold market were made early this week, as spot prices kicked off Sunday night trading above $2,041 per ounce before falling to their weekly low of $2,016 by 9 am EST Monday morning.
- The sharp downturn in China’s equity markets and real estate sector is contributing to strong gold sales ahead of the Lunar New Year, and other currencies provide clues about when gold will hit new highs in USD, according to Phil Carr, cofounder of GSC Commodity Intelligence.Bitcoin extended its win streak on Friday, surging above $48,000 near midday, while Ether reclaimed support at $2,500 as the crypto bull market heats up.
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