Respondents mixed on short-term price direction

Monday, 13 January 2020 11:32 WIB

After a roller-coaster week in which gold futures scaled a cliff only to fall off, the Friday high and low so far are both within Thursday™s trading range. This is referred to an œinside day on the daily charts and a sign of market indecision about the next short-term move. Wall Street participants in the weekly Kitco News gold survey are in fact conflicted on where the metal will head this week. The largest camp “ by a small margin “ said lower, but garnered less than 50% of the vote. In the Main Street survey, no voting bloc got 50% either, although this poll leaned...

Read more

RECENT NEWS

Even though gold was getting beaten up last Friday, analysts were still optimistic that the precious metal was going to return to its key $1,500 level soon. Gold fell more than 1% on Friday (10/11/19) with December Comex gold futures last trading near two-week lows at $1,487.70 an ounce. Upbeat risk appetite was driving the equity markets higher and pressuring gold lower as investors awaited...

Gold bulls are keeping the drive alive as both Wall Street analysts and Main Street investors remain firmly bullish on the yellow metal as the price has managed to regain the $1,500 level heading into the weekend, according to the latest Kitco News Weekly Gold Survey. For many analysts, gold's ability to recoup a 2% loss at the start of the week (30/9) and regain what became a critical...

The sidelines in the gold market are getting a little crowded with Wall Street analysts projecting range-bound trading despite rising volatility in the near-term. Meanwhile, Main Street investors remain bullish on gold this week even as sentiment drops to a three-month low, according to the latest Kitco News Weekly Gold Survey. A majority of analysts are turning neutral on the yellow metal...

After a very volatile session, gold is closing with a second straight week of losses last Friday while analysts remain bullish but slightly more cautious for this week. Seeing gold hit new fresh six-year highs, then drop more than $50 on a weekly basis has been unnerving for traders. Yet, analysts are saying that both upside and downside potential is capped for gold until the next big market...

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....