Will XAUUSD come back or continue to increase strongly?

World gold prices last week mainly maintained a recovery trend. At the beginning of the trading week, precious metal prices were listed above 2,300 USD/ounce and spent most of the trading week in the range of 2,310-2,330 USD/ounce.

During the trading session on May 10, the world gold price at one point recovered to 2,375 USD/ounce. However, the upward momentum did not last long, causing the gold price to fall by 15 USD and end the weekend session at 2,360 USD/ounce.

Over the past week, precious metals increased by 2.5% thanks to US employment data supporting dovish views on monetary policy. In addition, military tensions are increasing in both the Middle East and Ukraine; At the same time, data also shows that gold demand from central banks and other needs are all on the rise.

Experts assess that gold is still receiving positive support in the coming time as more and more central banks appear willing to lower interest rates, thanks to the above factors.

Kitco News' latest weekly gold survey finds industry experts are bullish on the precious metal.