Gold Prices Gridlocked, Bears Take Wheel

Monday, 21 October 2019 13:10 WIB

Although Wall Street bears have an advantage, ultimately, gridlock in the gold market means prices are not going anywhere fast, according to the latest results from the Kitco News Weekly Gold Survey. Main Street investors remain bullish on gold in the near-term. Retail investors have been bullish on gold since mid-May, which was the last time bullish bets were below the 50% level. Bill Baruch, president of Blue Line Futures, said that gold is struggling as the investor sentiment in broader financial markets waffles between risk-on and risk-off sentiment. He noted that the door is open for...

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After three-straight weeks of gains, cracks are starting to appear in gold's bullish veneer, particularly among Wall Street analysts, according to the latest results of the Kitco News Weekly Gold Survey. It has been a volatile week for the precious metal as unprecedented recession fears and new lows in bond yields drove investors from equity markets and into alternative safe-haven assets....

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