Sentiment suggests gold is ready to retest $2,000 as three-week selloff ends

- Although off its highs, the gold market is eking out a modest gain to end a three-week losing streak; solid bullish sentiment in the marketplace could push prices back to $2,000 an ounce by next week.

While gold has been unable to hold $2,000 ahead of the weekend, analysts said the bounce off a two-month low should provide some bullish momentum in the near term. "Easing political and banking systems tensions suggest that if we do get a bounce for gold, it may be moderate and $2,000 remains a significant psychological barrier,” he said.

Heading into the weekend, August gold futures last traded at $1,971.80 an ounce, up 0.40% from last Friday.

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