Gold price bull rally: the drive is alive

Monday, 6 July 2020 13:40 WIB

Gold achieved an important milestone this past week as priced pushed above $1,800 an ounce for the first time since 2011 and with strong fundamentals and what appears to be an unstoppable uptrend, retail investors and Wall Street analysts are significantly bullish on gold. Of the 17 Wall Street professionals who took part in last week poll, 12, or 70%, called for gold prices to rise. Three, or 18%, predicted lower prices. Another two voters, or 12%, said sideways or unchanged. A total of 1,940 votes were cast in an online Main Street poll. Of these, 1,287 respondents, or 66%, looked for...

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Voters in the weekly Kitco gold survey are bullish on the metal this week, citing gold's ability to hold up even when the dollar and equities strengthen, technical factors and ongoing worries about how the coronavirus could impact the global economy. Seventeen market professionals took part in the Wall Street survey. Eleven, or 65%, called for gold to rise. There was one vote, or 6%, saying...

Voters in the weekly Kitco gold survey remain bullish on the metal, with Wall Street analysts continuing to cite expected safe-haven buying of the precious metal due to worries about the impact of the coronavirus on the global economy. The stock market posted several rallies last week “ and gold dipped “ as investors at times shook off worries about the damage to the global economy from the...

Voters in the weekly Kitco News gold survey remain bullish on the yellow metal for this week, with traders and analysts citing ongoing worries about the economic fallout from the coronavirus that hit China, with a small number of cases now making their way to other countries. "I think we are going to see continued concern about the coronavirus," said Phil Flynn, senior market analyst with at...

Gold is well supported and has room to run higher this week as analysts point to the Federal Reserve meeting and the spread of the new corona virus as the two key issues to keep an eye on. The yellow metal battled against risk-on sentiment last week but managed to hold above $1,550 an ounce level and even rise about 0.8% on the week. February Comex gold futures were last trading at $1,572.40,...

Wall Street and Main Street alike look for gold to continue the recent bounce this week.             Thirteen market professionals took part in the Wall Street survey. Ten, or 77%, called for gold to rise. There were no votes saying gold would fall, with three voters, or 23%, neutral or calling for a sideways market. Meanwhile, 820...

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