Seventy-one percent of the Wall Street and Main Street respondents in the weekly Kitco gold price survey look for the precious metal to build on its gains this week. Just before 11 a.m. EDT on Friday, Comex April gold was trading at $1618.10 an ounce. Even though that was down $33.10 for the day, the metal had still posted a gain of 9% for the week so far. Analysts pointed out that the metal posted its biggest weekly gain since 2008, with the biggest impetus an early-week announcement of open-ended quantitative easing and other programs from the Federal Reserve to prop up the economy and...

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Wall Street and Main Street both look for gold prices to climb this week, with the Federal Open Market Committee widely expected to cut U.S. interest rates, according to the weekly Kitco News gold survey. Wall Street respondents cited a dovish Fed, technical-chart momentum in gold and the ability of the market to attract buying interest from fund managers on any price dips. However, many Wall...

Wall Street and Main Street look for gold to keep building on its recent gains, according to the weekly Kitco News gold survey. The metal hit a fresh six-year high in screen trading after renewed dovishness from Federal Reserve officials last Thursday. œGold has not only continued its upward move, it has clearly broken out to the upside, said Phil Flynn, senior market analyst with at...

Wall Street traders and analysts are undecided or else look for gold prices to be sideways this week, while Main Street remained bullish, according to the weekly Kitco News gold survey. The largest block of Wall Street voters were in the neutral/sideways camp, while the rest were nearly evenly split between bulls and bears. This was the first time Wall Street was not bullish since May 10, when...

The precious metals sector got hit hard last Friday as the market re-priced its Federal Reserve rate cut expectations ” taking a 50-basis point cut off the table in July. The analysts are now busy debating whether or not the Fed will cut rates in July and by how much in light of the latest solid job numbers out of the U.S. The economy added 224,000 new positions in June, while the...

Patience has finally paid off for the gold bull, as demand for the precious metal has pushed prices to levels not seen in nearly six years. Although gold prices are off their highs after breaking above $1,400, the market is still seeing its best weekly gains in more than three years. August gold futures last traded at $1,393.70 an ounce, up nearly 4% since the previous Friday. According to it...

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