Gold Market Outlook: XAU/USD Continues to Climb


 "Gold Futures" market data at this point shows an increase of 7,500 "open interest" business contracts. While the number of businesses is seen to increase up to 68,300 contracts.

The current gold market is seen as potentially heading towards the $2,000 price level. For the record, the addition of business contracts in the "Gold Futures" market has increased up to the level of $2,000, since Friday last week.

In addition, the conference results of several Fed members this week have confirmed market sentiment that interest rates in America will remain at 5.50% until the middle of next year. Because of this, the bond yield market and the US Dollar index continue to be under pressure.

Investors are now looking forward to the publication of the "Housing Market" data and also a speech by Chicago Fed President Austan Goolsbee to take opportunities in the short-term market as a close for the week.