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Weaker Prices Seen For Gold Market Next Week -- Survey Participants

By a small margin, participants in Kitco News’ weekly Gold Survey see weaker prices for next week, as worries about Europe will dominate headlines and that could weigh on prices as traders return to the dollar as a safe haven.
In the Kitco News Gold Survey, out of 32 participants, 24 responded this week. Of those 24 participants, eight see prices up, while nine see prices down, and seven are neutral on prices. Market participants include bullion dealers, investment banks, futures traders, money managers and technical chart analysts.
Those who see weaker prices said a return to concerns about the European sovereign debt situation will cause prices to fall again, much like it did last year on these worries. The dollar was the preferred safe haven when worries about Europe were raised and the dollar strength has been a weight on the market.
Further, said Carlos Perez-Santalla of PVM Futures, gold could be pressured by “position cleansing for commodities during Index fund rebalancing,” which also takes place next week. Price supports for gold are seen at $1,600 an ounce, then at $1,580.
Those who see higher prices said the recent weakness in gold has lured some bargain hunters; additionally, the start of 2012 has also meant some investors are reestablishing bullish positions in gold. Some suggest the saber-rattling by Iran regarding closing the strategically important Strait of Hormuz in retaliation for the European Union boycotting oil purchases from the Middle Eastern country is positive for gold’s price. Those who see higher prices seen gold retaking the 200-day moving average, which comes in around $1,629 and trading as high as $1,645.
Survey participants who are neutral on gold or at least expect it will trade in a sideways pattern said the market is still trying to establish a direction in the early days of 2012.
Kitco Gold Survey
By Debbie Carlson of Kitco News dcarlson@kitco.com
Alexander Letourneau contributed to the survey.

Let us learn something:

What does it meant by "bullish"?

"Bullish" is opposite to "Bearish".
Bullish refer to the overall market is about to rise.
Bearish refer to the opposite side...meaning to say that the overall market is about to fall...

By looking at the figure above, 37.5% participants predict that the gold price will fall (bearish) next week. So if you want to buy gold, better monitor the price...Public Gold price change every 20 minutes during weekdays. The change in price will be at --15, --35 and --55. For example at 1015, 1035, 1055, 1115, 1135, 1155 and so on. 

From my experience, normally the price will be lower on either Wednesday or Thursday night...I think you might need my help to lock the price. Jangan malu, jangan segan...Do not hesitate to contact me at 019-8899467. Thank you very much :) Happy weekends!


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