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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Gold Survey Shows Bulls In Full Control

Monday, 5 August 2019 13:19 WIB

The gold bears had their chance to take control of the market but failed, and now the bulls are in full control as both Wall Street and Main Street expect to see higher prices in the near-term as uncertainty dominates financial markets. "The bears tried to break the market and they failed so now we get to see what this market is really made of," said Charlie Nedoss, senior market strategist...

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...

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