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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Monday, 5 August 2019 13:19 WIB

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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...

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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...

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