Gold Survey: Mixed Outlook For Gold Prices Next Week
Friday January 11, 2013 12:02 PM
There is no majority of opinion on gold price direction for next week, with participants divided over the idea that fiscal policy uncertainty will support prices and others expecting prices to stay in the current range or move lower.
In the Kitco News Gold Survey, out of 33 participants, 23 responded this week. Of those 23 participants, nine see prices up, while seven see prices down, and seven see prices moving sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts.
Those who see prices moving higher have a very slight numerical win over participants in other categories, but not enough to form the majority. Those who see higher prices said gold remains underpinned by easy monetary policy from global central banks. Further, if wrangling over the debt ceiling in Washington in the next few weeks was anything like it was in August 2011, gold prices could rise.
Yet those who see prices trading sideways said that view of the debt ceiling talks might not hold this time around, given how gold sold off in late December and early January over the fiscal cliff squabbling. Many of those see prices holding in a range, citing the lack of clarity for market direction.
“This up and down 1% or more a day is great for the day/swing traders, but not so much for those trying to build a position. Right now the daily chart looks bearish, yet the weekly chart looks more neutral and displays an oversold condition. Government and central bank interest rate and stimulus policies are still being formulated, adjusted and implemented. Until there is more clarity to some of these situations we should expect a range bound market,” said Frank Lesh, broker and futures analyst with FuturePath Trading.
Participants who see lower prices said gold has not acted well and that the recent weakness has more room to go. “We have yet bottom out the current correction,” said Sterling Smith, futures specialist, commodity research at Citibank Institutional Client Group.
Others said as long as gold has resistance at $1,680 an ounce, they are bearish on prices.
By Debbie Carlson of Kitco News dcarlson@kitco.com
Follow me on Twitter! If you want to keep up with metals news and features, then follow me on Twitter. It's free, too. My account is @dcarlsonkitco.
Popular Posts
Kitco News - Gold Survey: Majority Of Participants See Higher Gold Prices Next Week
Gold Survey: Majority Of Participants See Higher Gold Prices Next Week Friday April 26, 2013 12:08 PM Following this week’s surge in gold prices, the majority of analysts in the weekly Kitco News Gold Survey expect prices to continue to rise. In the Kitco News Gold Survey, out of 35 participants, 24 responded this week. Of those 24 participants, 14 see prices up, while eight see prices down, and two see prices moving sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts. Many of the participants were encouraged by the unprecedented demand in the physical gold market and the influence that’s had on lifting benchmark futures prices. Because of the $100-plus an ounce rebound from last week’s lows, they see values marching higher. “(I expect the) continuation of (a) recovery rally after (an) extreme and abnormal sell-off. The reaction of the physical market to the sell-off suggests that, far fro...
FEBRUARI-MAC 2014 DEALER RECRUITMENT DRIVE (DRD)
Assalamu'alaikum Promosi terbaik bulan Februari dan Mac yang mesti direbut segera. Bermula 1 Februari-31 Mac 2014 :- 1. Dengan pembelian 350g harga sekitar RM50K++ anda sudah layak bergelar Priority Dealer (PD) Public Gold. Sebelum ini syarat untuk menjadi PD adalah dengan belian RM100K !! 2. Dengan pembelian 100g harga sekitar RM14k++ anda sudah layak bergelar Normal Dealer (PD) Public Gold. Sebelum ini syarat untuk menjadi PD adalah dengan belian RM20K!! Bagaimana cara bermula?? SMS kepada saya seperti berikut ke 017-728 7200: 1.Nama 2.Email: 3.IC: 4.Handphone number: 5.Butiran dan harga emas/silver: 6. Collection di branch Apa kelebihan order sekarang? 1. Kebiasaan menjadi NORMAL dealer (ND) adalah dengan pembelian RM20,000 manakala PRIORITY dealer (PD) adalah RM100,000 dalam satu resit 2. Anda dapat diskaun 1% bg ND dan 1.5% bagi PD dengan pembelian ini dan seterusnya. 3. A...
Mukaddimah
عليكم السلام Dan Salam 1Malaysia Syukur ke hadrat Allah Taala kerana dengan petunjuk dan kasih sayangNya kita masih lagi bernafas di muka bumi ini. Syukur juga saya panjatkan ke hadratnya kerana memberi peluang dan jalan kepada saya mengenali pelaburan emas melalui Public Gold yang mana selama ini saya hanya melakukan defisit terhadap pendapatan bulanan saya. Alhamdulillah, berkat bimbingan dan panduan daripada sifu saya Cikgu Haryati bt. Mohd. Sarkawi pemilik www.cikguemas.com , akhirnya saya dapat melahirkan blog ini sebagai panduan rakan-rakan yang masih tercari-cari lagi panduan dalam menentukan halatuju pelaburan sebenar di samping meluaskan ukhwah antara sesama kita. Sebenarnya saya sudah lama mengenali nama Public Gold; namun begitu, perasaan takut-takut tertipu dan kecewa masih menebal kerana saya belajar daripada pengalaman lalu. Setelah mula membeli 1 dinar daripada beliau terasa nilai sebenar gaji saya selama ini. Berbaloi-baloi.. ...
Comments
Post a Comment