DJIA
Last loading.. Chg. loading..
FTSE
Last loading.. Chg. loading..
NDXI
Last loading.. Chg. loading..
POPULAR NEWS
Stocks end lower on worries over coronavirus outbreak

Stocks ended lower Friday, giving up early gains after authorities confirmed a second U.S. coronavirus case. The Dow Jones Industrial Average fell around 170 points, or 0.6%, to end near 28,990, according to preliminary figures, while the S&P 500 lost around 30 points, or 0.9%, to finish near 3,295. The Nasdaq Composite closed near 9,315, off around 88 points, or 0.9%. Analysts said stocks were vulnerable to a pullback as concerns rise about the potential effect of the viral outbreak on...

Home

Wall St., Main St. Look For Gold Prices To Tick Higher
Monday, 8 April 2019 12:06 WIB | GOLD CORNER |Gold OutlookGold Corner

The biggest voting blocs on Wall Street and Main Street look for gold prices to rise over the this week, according to the weekly Kitco News gold survey.

Thirteen market professionals took part in the Wall Street survey. Seven participants, or 54%, described themselves as bullish for the this week. There were three voters each, or 23%, for both bearish and sideways.

Meanwhile, 534 respondents took part in an online Main Street poll. A total of 239 voters, or 45%, called for gold to rise. Another 191, or 36%, predicted gold would fall. The remaining 104 voters, or 19%, saw a sideways market.

In the last survey, Wall Street and Main Street were both bullish on gold for the last week. As of 11 a.m. EDT, Comex June gold futures were trading 0.2% lower for the week so far at $1,295.90 an ounce. So far in 2019, both Wall Street and Main Street are 7-5 in the weekly poll for a winning percentage of 58%.

"Gold should be up," said Phil Flynn, senior market analyst with Price Futures Group. "We held key support this week and we expect that physical demand will pick up."

He pointed out that core inflation remains "calm" and commented that the Federal Reserve probably won't raise interest rates even with a strong U.S. employment number.

Daniel Pavilonis, senior commodities broker with RJO Futures, also looks for gold to bounce from support levels that held around this week's lows.

"This [recent weakness] was a washout and an opportunity to start getting long [establish a bullish position] again," Pavilonis said. "We™re positive now. If we have a strong close today, I think we™ll see a lot of follow-through next week."

Afshin Nabavi, head of trading at trading house MKS (Switzerland) SA, also looks for gold to rise.

"With the geopolitical issues around the world, and the recent test of $1,280s ( yesterday), I can only remain bullish and look for a break above $1,295 and $1,300 level to push the price of the gold to the recent highs of $1,345," Nabavi said.

Charlie Nedoss, senior market strategist with LaSalle Futures Group who correctly predicted that gold would slip two weeks in a row, looks for still another down week. He noted that data still show the economy doing OK.

"I'm still friendly to the dollar," he said, later adding, "That, in turn, will weigh on gold."

Technically, one key will be what June gold does around the 100-day moving average near $1,294.60, Nedoss said. The metal has been below it last week but was hovering nearly right on this as Nedoss spoke. If this fails, the strategist said he does not see "hard support" until the 200-day average of $1,266.50.

Jim Wyckoff, senior technical analyst with Kitco, looks for gold to be "steady and choppy as near-term technicals have turned neutral at best."

Source: Kitco News

RELATED NEWS
Wall Street, Main Street expect gold price uptrend to continue...
Monday, 20 January 2020 10:52 WIB

Wall Street and Main Street alike look for gold to continue the recent bounce this week.             Thirteen market professionals took par...

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...

Wall St. Sees Steady To Higher Prices; Main St. Bullish...
Monday, 23 December 2019 11:33 WIB

Wall Street looks for gold to edge higher or trade sideways during the normally quiet Christmas week, while Main Street remains bullish, according to the weekly Kitco News gold survey. Seventeen mark...

Little conviction in gold market as trade talks ebb and flow...
Monday, 25 November 2019 11:27 WIB

Confusion and uncertainty dominates the gold market as traders and investors continue to react to shifting trade sentiment between China and the U.S. The latest Kitco News Weekly Gold Survey shows Wa...

Unique split on Wall Street to keep investors guessing the gold price this week...
Monday, 18 November 2019 11:02 WIB

This week will be an interesting one for gold with Wall Street uniquely split between expectations of higher and neutral gold prices, while Main Street is still very bullish, according to the latest K...

POPULAR NEWS
Stocks end lower on worries over coronavirus outbreak

Stocks ended lower Friday, giving up early gains after authorities confirmed a second U.S. coronavirus case. The Dow Jones Industrial Average fell around 170 points, or 0.6%, to end near 28,990, according to preliminary figures, while the S&P 500 lost around 30 points, or 0.9%, to finish near 3,295. The Nasdaq Composite closed near 9,315, off around 88 points, or 0.9%. Analysts said stocks were vulnerable to a pullback as concerns rise about the potential effect of the viral outbreak on...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.