Wall St., Main St. See Gold Price Rising During FOMC Week
Monday, 11 June 2018 11:11 WIB | GOLD CORNER |Gold OutlookGold Corner

Wall Street and Main Street alike look for gold prices to rise this week even though the Federal Open Market Committee is widely expected to hike U.S. interest rates again, based on the Kitco News weekly survey.

But then, some observers pointed out: traders have already factored higher U.S. rates into markets.

Investors have many major news events to monitor this week, with perhaps the most important being the Fed meeting, with policymakers expected to hike interest rates another 25 basis points. Other events include a U.S.-North Korea summit and meeting of the European Central Bank.

Seventeen market professionals took part in the survey. There were 10 votes, or 59%, calling for gold prices to rise. There were four votes or 24%, calling for gold to fall, while three voters, or 18%, look for a sideways market.

Meanwhile, 830 voters responded in an online Main Street survey. A total of 505 respondents, or 61%, predicted that gold prices would be higher in a week. Another 223 voters, or 27%, said gold will fall, while 102, or 12%, see a sideways market.

Charlie Nedoss, senior market strategist with LaSalle Futures Group, looks for a down-and-up week, with the precious metal ultimately finishing higher than where it leaves off last week. He looks for the usual œknee-jerk market reactions around the Fed meeting but adds that policymakers typically have telegraphed their intentions ahead of time. Any price break lower may end up as a buying opportunity, he added.

œWe™re at a key point, Nedoss said. œWe™re sitting right on the 10-day and 20-day moving averages¦.I look for weakness into the Fed, but after the Fed, I™m looking for support.

George Gero, managing director with RBC Wealth Management, figures gold may rally since a Fed rate hike is already factored into prices, thus the dollar may weaken.

œThe rate hike is priced in. Most of the negatives are priced in, Gero said. œIt™s all about the U.S. dollar.

Jim Wyckoff, senior technical analyst with Kitco, who sees steady to higher prices, commented that a œprice downtrend on the daily chart has been negated this week.

Meanwhile, Ralph Preston, principal with Heritage West Financial, looks for gold to fall due to a muscular U.S. currency.

œGold™s recent price action is like watching paint dry “ boring, Preston said. œAs mentioned before, we may see a pop higher on a geopolitical event. However, I do not see prices holding onto any significant gains in the face of a strengthening U.S. dollar.

Colin Cieszynski, chief market strategist at SIA Wealth Management, is also bearish on gold prices for this week.

œThe U.S. dollar continues to climb heading into the Fed meeting later this month where the FOMC is expected to raise interest rates again, he said. œMeanwhile, it looks like [U.S. President Donald] Trump™s summit with [North Korean leader] Kim Jong Un is on, which could ease political tensions in Asia. The addition of a headwind from the dollar and the removal of a tailwind from political risk could keep gold on the back foot in the coming days.

Source: Kitco News

RELATED NEWS

Trade Wars Not Building Enough Fear To Push Investors Into Gold - Analysts
Monday, 13 May 2019 13:54 WIB

Ketegangan perdagangan global yang meningkat memompa volatilitas ke pasar keuangan, tetapi masih tidak cukup untuk mendorong harga emas secara material lebih tinggi, menurut beberapa analis. Kejatuhan pasar ekuitas membantu harga emas mengakhiri minggu lalu di wilayah positif, tetapi pasar tetap te...

Bullish Gold Wave Is Coming; Be Patient And Watch Inflation Data, Say Analysts
Monday, 6 May 2019 16:26 WIB

Ada tren bullish emas yang berkembang di latar belakang karena pasar fokus pada data inflasi A.S. minggu ini menyusul komentar Ketua Federal Reserve Jerome Powell yang menampik inflasi rendah sebagai œsementara. Pekan lalu investor melihat data positif keluar dari AS, dengan suku bunga The Fed...

Wall St., Main St. Look For Gold Prices To Keep Bouncing
Monday, 29 April 2019 13:35 WIB

Wall Street dan Main Street keduanya bullish dalam survei emas mingguan Kitco News, menyerukan logam untuk melanjutkan rebound dari level terendah tahun ini yang dicapai pada awal pekan lalu. Emas berjangka Comex untuk bulan Juni mencapai $ 1.267,90 per ons pada hari Selasa, tetapi - dengan asumsi ...

Wall St., Main St. Split On Short-Term Outlook For Gold Prices
Monday, 22 April 2019 15:34 WIB

Wall Street cenderung sedikit bearish sementara Main Street sedikit bullish dalam survei emas mingguan Kitco News. Namun, baik bull maupun bear tidak memiliki mayoritas langsung dalam survei. Angka bulls emas Wall Street karena untuk lompatan korektif yang lebih tinggi, sementara bears mencari mome...

Wall St., Main St. Look For Gold Prices To Tick Higher
Monday, 8 April 2019 12:06 WIB

Blok suara terbesar di Wall Street dan Main Street menantikan harga emas untuk naik selama minggu ini, menurut survei emas mingguan Kitco News. Tiga belas profesional pasar mengambil bagian dalam survei Wall Street. Tujuh peserta, atau 54%, menggambarkan diri mereka sebagai bullish untuk minggu ini...

ANOTHER NEWS
Investor Awasi Berita Perdagangan, Indeks Saham Berjangka AS Mengarah Naik
Tuesday, 21 May 2019 16:17 WIB Indeks saham berjangka AS mengarah lebih tinggi untuk hari Selasa, karena investor yang optimis tampaknya bersiap melepaskan kerugian terkait dengan ketegangan perdagangan yang mengawali minggu ini. Indeks berjangka Dow Jones Industrial Average...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.