After falling 4% to a 3-year low, gold prices in New York (USA) continued to fall to 1,200 USD per ounce on June 27.

According to a weekend survey by precious metals news website Kitco, out of 21 respondents, 11 predicted prices would increase next week, 8 thought prices would decrease and only two said prices would go sideways.

Many analysts believe that gold prices may increase next week.

The gold market has been under a lot of pressure to reduce prices in the past week.

Because gold prices have dropped very sharply this week, and this is also a special time, some analysts believe that gold prices will tend to increase next week.

However, not everyone sees it as positively as Morrison.

Rich DeFalco, President of consulting firm 76 Capital Partners, also said that there is no reason for gold to increase next week, especially when Canada and the US enter the National Day holiday.

Next week, economic information will have a certain impact on gold prices.

The European Central Bank (ECB) will also meet next week.

Daniel Pavilonis, senior commodities broker at RJO Futures, said the market will be closely watching these developments.