Home » » Survey Participants See Higher Gold Prices Next Week

Survey Participants See Higher Gold Prices Next Week

Gold prices should rise next week following steep losses this week, most participants in Kitco News’ Gold Survey said.
  1. In the Kitco News Gold Survey, out of 32 participants, 19 responded this week. Of those 19 participants, 14 see prices up, while four see prices down, and one is neutral on prices. Market participants include bullion dealers, investment banks, futures traders, money managers and technical chart analysts.
  2. After falling to a low of $1,523.90 an ounce on Thursday, gold prices rebounded on short covering, traders said. That rebound could continue in early next week.
  3. “Friday’s strong price rebound may be signaling a period of price consolidation is at hand. We may see renewed short covering buying that has the potential to once again test the $1,600 level, basis the February futures, next week,” said Mike Zarembski, senior commodity analyst at optionsXpress.
  4. The $1,600 area could prove to be stout resistance and most survey participants think that ceiling will hold. Many who see prices higher next week said they don’t believe the gains will be sustainable, and said it’s very possible gold prices will retreat, after testing the upper band of resistance.
  5. Those who see weaker prices next week said, while gold might be oversold in the short-term, the medium-term technical picture has turned negative and that could lead to weaker prices, even as geopolitical worries heat up, such as saber-rattling by Iran over possibly closing the Straits of Hormuz, a key shipping lane for oil transportation. Normally geopolitical worries will be supportive for gold.
  6. The participant who is neutral on prices wants to see how the current price trend develops before making a decision whether to return to the market in the New Year.
Kitco Gold Survey
By Debbie Carlson of Kitco News dcarlson@kitco.com

0 comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...

Popular Posts

Doa Solat Sunat Duha

"Ya Allah, sesungguhnya waktu duha itu waktu duhaMu, kecantikannya kecantikanMu, keindahannya keindahanMu, kekuatannya kekuatanMu, kekuasaannya kekuasaanMu, perlindungannya perlindunganMu.

Ya Allah. jika rezekiku masih di langit, turunkanlah; jika rezekiku di perut bumi, keluarkanlah, jika rezekiku haram, sucikanlah, jika rezekiku sukar, permudahkanlah, jika rezekiku jauh, dekatlah...

Limpahkan kepadaku segala yang Engkau telah limpahkan kepada hamba-hambaMu yang soleh."
*Marilah kita sama-sama mengerjakan Solat Duha, sesungguhnya fadhilat solat ini ialah pintu rezeki kita akan terbuka luas, insyaAllah.
 
Support : Creating Website | Johny Template | Mas Template
Copyright © 2011. CikguEmas.Com - All Rights Reserved
Template Modify by Creating Website
Proudly powered by Blogger