This week’s gold price is expected to continue to increase

Last week, the world spot gold price increased by more than 2%. This is the 6th consecutive week of precious metals, due to the escalation of US -China trade tensions, causing investors to rush to buy gold shelter. In the session of February 7, the price had a new time at $ 2,886. Gold price has reached a record high level 6 in the last 7 sessions.

This weekend survey of Kitco with analysts, investors, and bank director shows that 88% of the respondents forecast for next week’s price. No one chooses a decrease price, and 12% thinks that the price is passing.

“Gold price is at the highest level of all time. There is no sign that the rising momentum will disappear,” James Stanley – a high -level market strategist at Forex.com forecast.

Colin Cieszynski – Market strategist at Sia Wealth Management and Adrian Day – Director of Adrian Day Asset Management are also optimistic in precious metals. “The motivation of gold price in the past year is still intact. The market will have to stop and adjust, but not now,” Adrian Day said.

The investor’s shelter before the new policies of US President Donald Trump is the main reason that the analysts believe in the increase of gold. “When concerned about import taxes and inflation is rising, gold will still be a safe investment channel. Look at the evolution for more than a week. Whether the US has imposed import tax or not, and when the new pressure is still pressure still It is unsure, “John Weyer – Risk Prevention Director at Walsh Trading explained.

On February 1, Mr. Trump signed a 25% tax order for Canadian, Mexico and 10% of Chinese goods. But on February 3, he announced the postponement of taxation with Mexico and Canada, after reaching an agreement to tighten smuggling and immigration activities with these two countries. Meanwhile, taxes with China remained in effect on February 4, causing Beijing to immediately use the same measure to retaliate.

However, Weyer said that after the US published a report on inflation in recent months, some investors even came up with the idea of ​​the US Federal Reserve (Fed) that was about to raise interest rates. The agency reduced interest 3 times last year when the US inflation cooled down, but remained in the last month’s meeting to evaluate the situation. Reduced interest rates will benefit gold.

“The instability in the US policy will continue to motivate central banks to buy gold reserves. This week, Chinese officials announced that the central bank bought gold for the third month in a row, after stopping all the time. Half a year, “Marc Chandler – Director of Bannockburn Global Forex said.

This week, Citi Research raises gold price forecasts in the next 3 months, from $ 2,800 to $ 3,000 per ounce. UBS Bank also said that precious metals can reach $ 3,000 later this year, while Goldman Sachs forecast this time is the second quarter/2026.

Next week, the market will follow the hearing of Fed President Jerome Powell before the Senate and the US House of Representatives. Investors will also receive the US consumer price index (CPI), production price index (PPI), January retail sales and the number of unemployment benefits last week. These figures are capable of affecting the gold market.