Analysts Predict Gold Rally Amid Rising Recession Fears
05.08.2024 8:30 2 min. read Alexander Stefanov
On Friday, August 2, gold (XAU/USD) hit $2,477 per ounce, nearing its previous high of $2,483 from July 17.
This movement is attributed to rising recession concerns in the U.S., prompting analysts to adopt a positive stance on gold.
New economic data showed that job growth in July was only 114,000, well below expectations, with the unemployment rate climbing to 4.3%, the highest since October 2021. These figures have intensified fears of an economic slowdown.
Gold, typically a safe haven during economic uncertainty, experienced a sell-off following the news. However, experts believe this dip is a temporary reaction and that gold is on the verge of breaking its all-time high.
By the close of trading on Friday, gold stood at $2,442, a 3.78% gain from its low on July 25. The retracement to $2,353 respected the 50-day moving average, indicating potential for a rebound.
The Kitco News Weekly Gold Survey reflects a bullish sentiment among both retail investors and analysts. Prominent figures like Adrian Day, Marc Chandler, Michele Schneider, Bob Haberkorn, Christopher Vecchio, James Stanley, and Adam Button shared their insights. They generally agree that gold is poised for further gains, although Adam Button advises caution in the short term.
Survey results show that 79% of Wall Street analysts and 73% of Main Street investors expect gold prices to increase next week. Factors such as recession fears, a weakening U.S. economy, and geopolitical tensions are seen as driving forces behind gold’s potential rise. The market will keep an eye on upcoming economic reports and Treasury auctions for further guidance.
-
1
Grayscale Launches Staking for Ethereum and Solana Trusts in Landmark Move
06.10.2025 15:40 1 min. read -
2
Coinbase Unlocks Millions of Onchain Assets With New DEX Trading Integration
09.10.2025 9:00 2 min. read -
3
Binance Promises Compensation After Market Meltdown Hits Users
11.10.2025 20:00 2 min. read -
4
Ethereum Powers Bhutan’s New Digital Identity Revolution
14.10.2025 13:00 2 min. read -
5
Emerging Markets Could Drive $1 Trillion Shift Into Stablecoins, Says Standard Chartered
06.10.2025 16:00 2 min. read
Asian Exchanges Reject Bitcoin Treasury Strategies Amid Volatility Concerns
Major stock exchanges across Asia are increasingly rejecting companies that aim to adopt digital-asset treasury strategies, citing concerns over market volatility.
FalconX Acquires 21Shares to Expand Crypto ETP Offerings
FalconX, a leading crypto prime broker, is set to acquire 21Shares, the world’s largest issuer of crypto exchange-traded products (ETPs).
Fed’s New Plan Could Finally End Crypto’s Banking Nightmare
After years of tension between digital asset firms and traditional finance, the U.S. Federal Reserve is quietly exploring a change that could reopen long-closed doors.
Citi Initiates Coverage on Strategy (MSTR) with $485 Price Target, Calls It a Leveraged Bet on Bitcoin
Crypto-related stocks have increasingly become a bridge between traditional equity markets and digital assets, allowing investors to gain indirect exposure to Bitcoin, Ethereum, and the broader blockchain economy without holding tokens directly.
-
1
Grayscale Launches Staking for Ethereum and Solana Trusts in Landmark Move
06.10.2025 15:40 1 min. read -
2
Coinbase Unlocks Millions of Onchain Assets With New DEX Trading Integration
09.10.2025 9:00 2 min. read -
3
Binance Promises Compensation After Market Meltdown Hits Users
11.10.2025 20:00 2 min. read -
4
Ethereum Powers Bhutan’s New Digital Identity Revolution
14.10.2025 13:00 2 min. read -
5
Emerging Markets Could Drive $1 Trillion Shift Into Stablecoins, Says Standard Chartered
06.10.2025 16:00 2 min. read
Bitcoin’s price movement between $56,000 and $71,000 could be more significant than it appears, with fresh analysis pointing to this range as a major support zone.
Even though XRP is currently showing sluggish price movement, many market analysts remain hopeful about its potential.
Over the weekend, XRP experienced a notable surge, increasing by more than 7% as Bitcoin approached the $65,000 level.
XRP appears to be gaining bullish traction, with analysts pointing to a potential breakout that could send the token toward new highs.
Analysts from TD Cowen expect blockchain-recorded assets to skyrocket from roughly $4.6 trillion today to over $100 trillion within the next five years.
Bitcoin’s historic surge past $111,000 this week has reignited speculation over just how far the rally could go—some analysts are now eyeing $200,000 by the end of 2025.
Nvidia’s latest quarterly results initially caused concern in the stock market, despite surpassing earnings and revenue expectations.
XRP is once again stirring controversy in crypto circles after a bold prediction suggested the token could one day command a five-figure price tag.
As the cryptocurrency market continues its volatile yet promising trajectory, investors are increasingly looking for high-growth altcoins that can yield significant returns even with a small portfolio.
Ethereum's proof-of-stake design may offer it a stronger defense against attacks than Bitcoin's proof-of-work system, according to recent insights from leading researchers in the crypto space.
Solana Price volatility has returned, leaving traders on edge about whether any recovery will hold. According to Coingecko, SOL trades near $170 and struggles to stay above $175, a key support from late 2024.
Bitcoin’s recent price volatility has raised concerns among analysts, with some predicting a potential crash that could wipe out billions in market value.
Bitcoin (BTC) has recently seen a pullback, dropping to $87,500 at the time of writing, after touching a high of a little over $90,000.
Anchorage Digital, the only federally chartered crypto bank in the U.S., is strengthening its position in the stablecoin arena with the acquisition of Bermuda-based Mountain Protocol.
Blockchain data firm Arkham Intelligence has revealed that a prominent Bitcoin whale, one of the earliest miners, has sold approximately $9.7 million worth of Bitcoin.
Marc Andreessen, co-founder of Andreessen Horowitz and a vocal figure in the tech and crypto world, recently accused the Biden administration of using the banking system to target crypto entrepreneurs.
In late 2022, famous internet personality - Andrew Tate was arrested in Romania on human trafficking charges, just days after having a Twitter spat with Greta Tunberg.
Andrew Tate recently shared his views on Bitcoin, predicting that the true bull market for the cryptocurrency is still on the horizon.