Investors are not optimistic about gold prices next week.

Analysts predict that market uncertainty following the US June jobs data will continue to negatively impact gold prices next week.

It is difficult to predict the trend of gold prices next week, as analysts believe the gold market will remain volatile following the release of lower-than-expected US June employment figures. In addition, the results of the Greek referendum today (July 5th) will also have a certain impact on global gold prices.

On the Comex exchange, gold prices are ending the second consecutive week with negative signals. In the short term, most retail investors share the view that gold will continue to trend downwards as the market has yet to establish stability.

According to Kitco News' online survey of the public, 56% believe that gold prices will continue to fall next week. Meanwhile, only 29% expect gold prices to rise, with the remainder remaining neutral.

A survey of market experts, including gold dealers, investment banks, futures traders, and technical chart analysts, revealed that 44% expressed optimism about gold for the coming week, while only 39% believed gold prices were falling or would continue to fall, and 17% were neutral.

Kitco News has released the results of its survey on gold prices for the coming week.

Colin Cieszynski, senior market strategist at CMC, said he expects gold to rise next week as data does not support a Fed interest rate hike in September. In addition, the weakening of the USD index will also help push gold higher.

Ole Hansen, head of commodity strategist at Saxo Bank, agrees that gold could rebound next week as he believes the Fed will be less "aggressive" following the US June jobs report. He added that there is some technical support for the precious metal as gold prices have fallen below $1,163/oz.

Some other analysts are not expecting much from the June jobs data to change the current outlook for gold prices. Dahdah Bernard, precious metals strategist at Natixis, said that gold remains constrained in the near future. He added that there is little expectation of an immediate reaction from the gold market following the Greek referendum on whether to accept a financial bailout from European creditors.

With gold prices falling to their lowest level in three months, it's no surprise that retail investors will continue to have a negative outlook on gold prices in the coming weeks. More accurately, the pessimism about the gold market among retail investors is growing stronger.

Geno from Vancouver, Canada, said that with the available data, the gold market is unlikely to improve in the short term, and may even see further price declines. "I don't see any chance for gold prices to rise in the near future," Geno stated.

Bart Melek, chief commodity strategist at TD Securities, said that while the June jobs report, showing a gain of over 200,000, is still relatively good, it won't change expectations that the Fed will raise interest rates in September. Melek added that he expects gold prices to rise slightly next week to maintain a range-bound position after previously falling to excessively low levels.

Meanwhile, Phillip Streible, senior market strategist at RJO Futures, suggests that investors are becoming increasingly frustrated with gold due to the lack of positive data for the market. However, geopolitical instability in Europe and Greece could also be a long-term investment opportunity in gold.

Many analysts expressed disappointment that Greece's default and the forced imposition of capital controls had little impact on gold prices. Sean Lusk, head of commercial funds at Walsh Trading, noted that gold seems less attractive to investors as the USD and US government bonds are becoming safe-haven assets.

According to VOV.VN