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mohsinqureshii

Gold Bullish or Bearish

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Some more Bearish news...

 

Weaker Gold Prices Expected Next Week Say Survey Participants

 

Gold prices are expected to fall next week, say a majority of participants in the weekly Kitco News Gold Survey, as a stronger dollar and an outlook for eventually higher interest rates weigh on values.

 

Out of 37 participants, 24 responded this week. Of those, five see higher prices, 18 see lower prices and one sees prices trading sideways. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

Last week, survey participants were slightly bearish. As of 11:30 a.m. EDT, Comex December gold was down about $37 for the week.

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  Patuca said:
why? Why? Oh why? Why

 

When even Barclays is bearish then i am just a minor trader..

 

Barclays Lowers Gold Price Forecast

Wednesday September 17

 

Barclays on Wednesday lowered its price forecast for gold, citing “an increasingly bearish macro backdrop developing for gold,”.

 

“Rising rates and a significantly stronger dollar present headwinds, which are set to overwhelm any seasonal strength in physical demand this year,” the bank said.

 

Barclays lowered their fourth-quarter average gold price forecast to $1,220 an ounce. They now expect prices to average $1,270 an ounce in 2014. Their 2015 forecast calls for an average gold price of $1,180.

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  Ammeo said:
When even Barclays is bearish then i am just a minor trader..

 

Barclays Lowers Gold Price Forecast

Wednesday September 17

 

Barclays on Wednesday lowered its price forecast for gold, citing “an increasingly bearish macro backdrop developing for gold,”.

 

“Rising rates and a significantly stronger dollar present headwinds, which are set to overwhelm any seasonal strength in physical demand this year,” the bank said.

 

Barclays lowered their fourth-quarter average gold price forecast to $1,220 an ounce. They now expect prices to average $1,270 an ounce in 2014. Their 2015 forecast calls for an average gold price of $1,180.

 

Barclays is always late to the party.

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Weaker Gold Prices Forecast By Majority Of Survey Participants

 

A majority of participants in the weekly Kitco News Gold Survey said they see weaker prices next week for the yellow metal, as U.S. dollar strength and expectations of rising interest rates continue to weigh on values.

 

Out of 37 participants, 24 responded this week. Of those, seven see higher prices, 13 see lower prices and four see prices trading sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

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May be gold is heading 1190 next week the way the current scenario is,if 1190 doesn't hold 1147 is inevitable.after 6 years dollar hitting high after high,this is a great bubble created by the central banks to eat investors money.

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  Ammeo said:

... Of those, seven see higher prices.... Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

 

Patuca you are not alone. Take comfort in the fact that you are in the minority. The majority is usually wrong.

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More Bearish news...

 

Survey Participants Forecast Lower Gold Prices For Next Week

 

A majority of participants forecast lower gold prices next week in the Kitco News Gold Survey as dollar strength and bearish technical-chart formations weigh on the metal.

 

Out of 37 participants, 20 responded this week. Of those, four see higher prices, 12 see lower prices and four see prices trading sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

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If China doesnt want the Gold then no one in the world wants the Gold..:D

 

Commerzbank: 2014 Chinese Gold Imports 'To Fall Well Short' Of Last Year'

Friday September 26

 

Chinese gold imports from Hong Kong remain subdued, says Commerzbank. Analysts cite data from Hong Kong’s Census and Statistics Department showing China imported only 27.5 metric tons of gold on a net basis from the former British crown colony in August. “This puts net imports only slightly above the previous month’s low level, which constituted the lowest figure since June 2011,” Commerzbank says. “Chinese net gold imports from Hong Kong have totaled 497 tons since the beginning of the year, 33% down on the corresponding period last year. Chinese gold demand looks set to fall well short of last year’s total even if it picks up in the next few months. The weak gold demand in China is one key reason for the slump in the gold price over recent months.

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Survey Participants Remain Bearish On The Gold Price Outlook

 

A majority of participants in the Kitco News weekly gold survey remain bearish on prices for the metal next week, continuing to say the strength of the dollar weighs on gold.

 

Out of 37 participants, 26 responded this week. Of those, seven see higher prices, 16 see lower prices and three see prices trading sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

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INTL FCStone Sees Gold Testing $1,180/Oz During October

 

INTL FCStone looks for gold to test the 2013 double-bottom of around $1,180 an ounce sometime during October. Prices fell during September on a number of factors, the firm says. “Most importantly, the surging dollar hit gold hard, as did the still-buoyant U.S. equity markets,” the firm says in its monthly commodities outlook. “Although we did get two rather serious equity corrections this week and last, the selling did not result in much of a rally for gold. Secondly, the Fed will now likely be the ‘first mover’ in raising rates -- just as other central banks are easing -- and this is also weighing on gold by strengthening the dollar even more. Third, although there are a host of hotspots all over the world, these are not doing much for gold, as they are not generating economic dislocationsthat would be normally be bullish for the precious metal.”

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Predictions

... One of the major dangers of prediction is that the ego gets involved and the analyst finds it difficult to admit he/she may be wrong, even in the presence of considerable evidence to the contrary. Being wrong in our predictions is something that few of us can tolerate very well! This is especially true when we have made public forecasts and have used considerable persuasion to get others to believe in our predictions. It is always just a matter of “you wait and see – I’ll be right soon enough”

 

W. Clay Allen, CFA

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Survey Participants Have Split Views On Gold Price Direction Next Week

 

Views on where gold prices will go next week are split in the weekly Kitco News Gold Survey, with only a nominal number of survey participants seeing higher prices.

 

Out of 37 participants, 23 responded this week. Of those, 10 see higher prices, nine see lower prices and four see prices trading sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

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Gold has bounced almost precisely off major support around the 1180 level in a move that tentatively forms a triple-bottom pattern in conjunction with the metal's two previous 1180-area lows in late June and late December of 2013.

Anyone think it'll go up from this triple bottom? to me it seems it will..

gold.thumb.jpg.07b07523eb181a381351e176ddf633e9.jpg

Edited by Ammeo

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