Editor's Note: Bulls or Bears? Kitco News' Global News Editor, Debbie Carlson breaks down what leading analysts are expecting for gold in the week ahead every Friday on Kitco.com.
Possible Measures Quantitative Easing By The Federal Reserve Makes Bullish Survey Participants
Friday August 31, 2012 12:05 PM
Comments by Federal Reserve Chairman Ben Bernanke at Friday's Fed symposium in Jackson Hole, Wyo.., Has many potentials in the weekly Kitco News Gold Survey expect for hire saying PRICES Higher gold next week.
Bernanke said Friday he's open to enact more quantitative easing to help Bring down U.S. unemployment. The Fed has a dual mandate to keep Inflation under control and stabilize employment.
In the Kitco News Gold Survey, out of 33 u, 24 responded this week. Those of 24 u, 15 see PRICES up, while six see PRICES down, and three are neutral or see PRICES moving sideways. Market potentials include bullion dealers, Investment Banks, futures traders, money managers and technical-chart analysts.
With the door opened to more quantitative easing just a little bit more, could gold Continue to rally. Spencer Patton, founder and Chief Financial officer at Steel Vine Investments, said while Bernanke did not officially offer quantitative easing in his speech today, it's on the table. "Markets and Should gold rally on this all next week," Patton said.
Some of Those who see weaker PRICES said gold could Encounter profit-taking after it missing the rally of the past two weeks. Mark Leibovit, editor VR Gold Letter, said while he's ultimately bullish on gold, he said the metal could retreat as far back at $ 1.625 an ounce.
Participants who are neutral on PRICES said for hire expect the market to stabilize around current levels BEFORE deciding on its next path.
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.
Allen Sykora Contributed to this survey
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