Gold Market Outlook: XAU/USD Continues to Climb

<p>&nbsp;"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.</p><p><br /></p><p>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.</p><p><br /></p><p>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.</p><p><br /></p><p>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.</p>