Weekly gold analysis

◽️During the last trading week, gold touched a high of $1,985 on Wednesday. And even though prices saw a drop Thursday, gold futures are ending the week up 1.2%

◽️Gold price has risen due to both inflation and geopolitics, and the short-term movement for gold is still positive.

◽️Gold uptrend may be limited as the central bank’s determination to raise interest rates

◽️The bearish sentiment leaned towards a pullback next week as investors look to take profits after the last bullish gains

◽️Gold prices have risen due to risks and inflation, but downward pressure is ahead

◽️Technically, after the price past the $1,980 an ounce level, this was a sign of strong interest in the metal

◽️Reducing geopolitical tensions or moderating inflation could also cause gold prices to fall.

🔻 Those who expect lower prices for gold, are confident that they have a good profit and support higher prices going forward.

🔻 One long-term driver remains the global central banks, which are being backed into a corner by high inflation

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