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.
Survey Participants Look For Higher Gold Prices Next Week
Friday Septembert 21, 2012 12:15 PM
Most potentials in Kitco News' weekly gold survey for hire said look for the precious metal to maintain its Upward momentum next week on continued thereafter recent Buying Monetary easing in the U.S. and elsewhere, as well as technical-chart strength.
Out of 34 u, 21 responded this week. Of Those, 15 see PRICES up, while four see PRICES down and see two or sideways PRICES UNCHANGED. Market potentials include bullion dealers, Investment Banks, futures traders and technical-chart analysts.
December gold has already Rizky smartly on the Comex division of the New York Mercantile Exchange since mid-August, rising from an Aug. 15 low of $ 1,592.10 an ounce to a high so far of $ 1.790 Friday. Much of this was first on expectations of easing from the Federal Reserve, Then further policy-setters Gains When Actually unwrap more accommodation. The European Central Bank and Bank of Japan are also rates bond-Buying undertaking programs.
"Do not fight the Fed - QE Continues to Push Markets Higher," said Spencer Patton, chief investment officer for Steel Vine Investments.
Those who look for gold to soften next week point out That Markets invariably run into missing or Corrections Periods of consolidation, rather than citing anything as overtly bearish for hire see.
"A modest correction is in order Following the major rally over the past FEW weeks," said Adrian Day, president of Adrian Day Asset Management. "I would not sell Because the fundamentals jocko positive: this is only a short-term pullback."
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