Comment Now
Follow Comments
(Kitco News) – Gold
prices are expected to climb next week, with expectations that the
yellow metal may catch a bid as the situation regarding a possible
bailout for Cyprus could attract safe-haven buying.
In the Kitco News Gold Survey, out of 33 participants, 28 responded this
week. Of those 28 participants, 22 see prices up, while four see prices
down, and two are neutral. Market participants include bullion dealers,
investment banks, futures traders, money managers and technical-chart
analysts.
For those participants who see higher prices next week, nearly all of them cited the situation in Cyprus and
whether or not European officials will agree to bail out the
near-bankrupt country as the reason for their higher calls. Many expect
that Cyprus will get some sort of bailout, which will support both gold
and the euro currency.
Carlos Perez-Santalla, precious metals broker at PVM Futures, echoed
what many other participants said was another bullish factor for gold.
“Although the Cyprus situation
has not driven demand up yet, the feeling of insecurity of monetary
assets by many Europeans will affect demand soon,” he said.
The majority of participants are bullish, but there a few respondents who said gold’s limited reaction to the Cyprus news
this week doesn’t bode well for the metal. They said they were
surprised that given news that a eurozone country was teetering on the
edge of bankruptcy, gold wasn’t able to take out recent highs, which is
troubling.
“The key number for gold is $1,625. That’s big resistance. Unless we can
close above it, the trend remains down,” said Kevin Grady, president, PhoenixFutures and Options.
The two participants who are neutral on gold said there are too many
unknowns about the Cyprus situation to give an accurate read on where
prices might go next week.
By Debbie Carlson of Kitco News dcarlson@kitco.com
Popular Posts
Simpan Wang Di Bank Atau Beralih Kepada Emas Fizikal Public Gold - Mana Lebih Berbaloi?
Assalamualaikum wbt & Salam Sejahtera. Semalam mutakhir di Berita Harian Online menyatakan kadar purata tariff elektrik naik 4.99 sen mulai 1 Januari 2014. Kenaikan ini merupakan kenaikan hampir 15% daripada tariff yang sedia ada. Hari ini pula, Utusan Borneo melaporkan bahawa Harga hartanah dijangka meningkat 5-10 peratus pada 2014. MENTERI Tenaga, Teknologi Hijau dan Air, Datuk Seri Dr Maximus Ongkili pada sidang media khas di Parlimen mengumumkan berkuatkuasa 1 Januari 2014, kadar purata tarif elektrik di Semenanjung naik 4.99 sen atau 14.89 peratus iaitu daripada kadar purata semasa 33.54 sen/kwj kepada 38.53 sen/kwj. Turut berlaku kenaikan, Sabah dan Wilayah Persekutuan Labuan iaitu sebanyak 5 sen atau peningkatan 16.9 peratus. - Foto Effendy Rashid Lantas, apakah tindakan kita? Kenaikan harga ini sebenarnya bermula daripada rentetan kenaikan harga minyak pada bulan September 2013 yang lalu. Bila harga minyak naik, kos pengangkutan akan naik. Maka untuk menampung kos peng...
Selamatkah Membeli Emas di Public Gold?
Soalan ini yang acapkali di utarakan kepada saya setiap kali bertemu dan berkongsi idea berkaitan simpanan emas kepada sahabat-sahabat lama baru. Anda LIHAT, BACA, FIKIR, PILIH DAN BERTINDAK.. A picture worth a 1k words.. Keratan Akhbar Harian Metro 22 Oktober 2009 Anda juga pastinya pernah membaca/mendengar tentang pelabur tertipu disebabkan skim cepat kaya yang melibatkan syarikat menjual jongkong emas. Saya bawakan 3 contoh untuk kita kongsikan bersama: 1. Sindiket Skim Pelaburan Emas Di Pulau Pinang 9/2/2010 2.Skim Pelaburan Emas Di Lembah Klang 3.Skim Pelaburan Emas Di Kuala Lumpur Amat menyedihkan dan kasihan melihat pelabur-pelabur malang yang terlibat dalam kes seperti di atas. Di sini, boleh kita simpulkan bahawa syarikat yang berunsur penipuan akan menjanjikan pelabur pulangan lumayan untuk beberapa bulan dan pada bulan terakhir akan memujuk pelabur untuk menjual emas tetapi kemudiannya lari bersama emas ters...
Bloomberg - 30 April 2013 - Gold Rush From Dubai to Turkey Saps Supply as Premiums Jump
Surging demand for gold from Dubai to Istanbul has pushed physical premiums in the region to levels not seen in years as the biggest price slump in three decades lures consumers, according to MKS (Switzerland) SA. Premiums paid by wholesalers and bulk buyers in Dubai to secure a 1 kilogram bar of bullion are being quoted between $6 an ounce and $9 an ounce over the London cash price, said Frederic Panizzutti, global head of marketing and sales at the Swiss-based bullion refiner. That compares with about 50 cents before the rout, Panizzutti, also chief executive officer of MKS Precious Metals DMCC, said in an interview from Dubai. Gold fell to the lowest in more than two years this month on speculation that the global economy is recovering, unleashing a purchasing frenzy among coin and jewelry buyers from China to the U.S. Consumer demand for jewelry, bars and coins in Turkey and the Middle East represented about 9.4 percent of the global total last year, according to the World Gold...