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mohsinqureshii

Gold Bullish or Bearish

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Survey Participants Lean Bearish Toward Gold Prices Next Week

 

A nominal number of participants in the weekly Kitco News Gold Survey lean bearish toward gold prices next week, although neither group had a dominant viewpoint.

 

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

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Survey Participants Lean Bearish Toward Gold Prices Next Week

 

A nominal number of participants in the weekly Kitco News Gold Survey lean bearish toward gold prices next week, although neither group had a dominant viewpoint.

 

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

 

BTW i personally dont agree with the analysts with their next week's gold outlook...i think this major triple bottom on gold will give some further upward to gold next week...

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Though 1180-1182 had provided support for the 3rd time, but no highs created. Infact lower lows have been created which could interest the bears more here though.

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Could this be one of the reasons of GOLD's recent 6 week high run?

 

Indian Gold Demand Jumps During Run-Up To Diwali Festival

 

Gold demand from India picked up significantly ahead of the approaching Diwali festival, analysts and traders reported.

 

Diwali, the festival of lights observed by the country’s Hindu population, falls on Thursday and is an auspicious time for buying gold. India, in turn, is one of the world’s two largest gold-buying nations.

 

“Demand in India has noticeably strengthened ahead of this year's Diwali, especially after gold prices traded around the year's lows during the month or so before this key festival,” said Joni Teves, analyst with UBS

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R.J. O'Brien's Toth: $1,232 Key Short-Term Level For December Gold

Thursday October 23, 2014

 

Technically, the area around $1,232 an ounce is a key short-term level for Comex December gold, says Dave Toth, markets insights senior analyst with R.J. O’Brien. This was the low from Friday before the contract ran to a nearly six-week high of $1,255.60 on Tuesday. “Such a sub-$1,232 failure would, in fact, break this month's uptrend from (the Oct. 6) $1,183.30 low and expose AT LEAST a correction of this rally,” Toth says in a research note. “And against the backdrop of a three-year downtrend and the prospect that October’s recovery is just a correction of the decline from July's $1,346.80 high (on a continuation chart), a resumption of the secular bear to new lows below $1,183 is also on the table.”

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Survey Participants Lean Bearish Toward Gold Prices

 

Survey participants in the weekly Kitco News gold survey are nominally bearish on gold prices, although they don’t own the majority opinion as a fair number of respondents see prices trading sideways.

 

Out of 36 participants, 21 responded this week. Of those, six see higher prices, nine see lower prices and six see prices trading sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.

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Large Speculators Build Bullish Gold Positions For Second Week In Latest CFTC Data

 

For the second straight week, large speculators added to their bullish Comex gold futures and options holdings as prices rose during the timeframe covered by the Commodity Futures Trading Commission weekly data.

 

Gold was the only metal to see a rise in bullish positions in the disaggregated and legacy reports for the time period ending Oct. 21. As it was in the previous report, the situation was mixed for rest of the metals complex. In silver, funds trimmed a net-short position in the disaggregated report and reduced a net-bullish position in the legacy data. In the platinum group metals, large speculators cut bullish exposure in both reports, while in copper, funds raised their net-short position.

 

Analysts at Commerzbank noted the net-long positions held by large speculators have doubled in the past two reports and they express some caution. “The price rise of around $40 per troy ounce in this review period was thus largely speculatively driven und therefore has a shaky footing in our view,” they said.

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Large Speculators Build Bullish Gold Positions For Second Week In Latest CFTC Data

 

For the second straight week, large speculators added to their bullish Comex gold futures and options holdings as prices rose during the timeframe covered by the Commodity Futures Trading Commission weekly data.

 

Gold was the only metal to see a rise in bullish positions in the disaggregated and legacy reports for the time period ending Oct. 21. As it was in the previous report, the situation was mixed for rest of the metals complex. In silver, funds trimmed a net-short position in the disaggregated report and reduced a net-bullish position in the legacy data. In the platinum group metals, large speculators cut bullish exposure in both reports, while in copper, funds raised their net-short position.

 

Analysts at Commerzbank noted the net-long positions held by large speculators have doubled in the past two reports and they express some caution. “The price rise of around $40 per troy ounce in this review period was thus largely speculatively driven und therefore has a shaky footing in our view,” they said.

 

Hello Ammeo,

 

I get more info about that,

 

Metals prices were mixed during the time period covered by the latest CFTC report. Comex December gold gained $17.40 to $1,251.70 an ounce. December silver gained 14.6 cents to $17.549. January platinum rose $10.70 to $1,282 an ounce. December palladium fell $19.10 to $776. Comex December copper fell 6.2 cents to $3.028 a pound.

 

Managed-money traders added to holdings for the second consecutive week, pushing their net-long position to 75,273 contracts. These traders added 10,253 longs and cut 13,025 gross shorts. Producers’ and swap dealers’ net-short positions rose as they both added gross shorts and cut gross longs positions.

 

The non-commercial traders in the gold legacy report also added new longs and cut shorts, doing so for the second week. They added 12,683 gross long contracts and cut 11,236 gross shorts. They are now net-long 111,279 contracts.

 

Commercials are net-short and bolstered that position by adding many more gross shorts than gross longs.

 

For more info wisit: Large Speculators Build Bullish Gold Positions For Second Week In Latest CFTC Data - Forbes

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Hello Ammeo,

 

I get more info about that,

 

Metals prices were mixed during the time period covered by the latest CFTC report. Comex December gold gained $17.40 to $1,251.70 an ounce. December silver gained 14.6 cents to $17.549. January platinum rose $10.70 to $1,282 an ounce. December palladium fell $19.10 to $776. Comex December copper fell 6.2 cents to $3.028 a pound.

 

Managed-money traders added to holdings for the second consecutive week, pushing their net-long position to 75,273 contracts. These traders added 10,253 longs and cut 13,025 gross shorts. Producers’ and swap dealers’ net-short positions rose as they both added gross shorts and cut gross longs positions.

 

The non-commercial traders in the gold legacy report also added new longs and cut shorts, doing so for the second week. They added 12,683 gross long contracts and cut 11,236 gross shorts. They are now net-long 111,279 contracts.

 

Commercials are net-short and bolstered that position by adding many more gross shorts than gross longs.

 

For more info wisit: Large Speculators Build Bullish Gold Positions For Second Week In Latest CFTC Data - Forbes

 

Thnx for the info.....

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Credit Agricole Looks For Gold To Stabilize In 4Q, Soften In 2015

 

Credit Agricole sees gold stabilizing in the fourth quarter on “conflicting” influences but then soften in 2015.

 

There is potential for long-term exchange-traded-fund investment to be further reduced, which could weigh on gold in dollar terms. “In the absence of a more persistent financial scare -- not in our forecasts -- this moderation in longer-term investor demand should continue,” the bank said.

“Central bank diversification away from gold continues, removing a previous source of support,” Credit Agricole said. “However, speculation surrounding potential SNB purchases, lifting its share from the current 8% to 20% -- over five years -- could reverse this trend if the Swiss vote ‘yes’ in a referendum on 30 November.

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Hello Ammeo,

 

How is going on? Today you have any update? still i don`t get any update.....:confused:

 

Sorry for the late reply..

 

Imo the global growth slowdown is not going to make the Fed anymore dovish than it already is, especially since U.S growth continues to be strong and sustained, even after Quantitve Easing has finished up and may result in further downtrend in Gold vs USD this week.

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Gold Prices Expected To Fall Next Week

Friday November 7, 2014

A majority of participants in the weekly Kitco News Gold survey expect prices to fall next week, with Friday’s rally seen as a selling opportunity.

 

Out of 36 participants, 23 responded this week. Of those, six see higher prices, 14 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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Hello,

 

GOLD Forex Signal for Fri, 14 Nov 2014

 

Open BUY/LONG GOLD at 1166.45

Set Take Profit at 1171.47 / 1179.00 / 1186.53

Set Stop Loss at 1156.41

 

Open SELL/SHORT GOLD at 1156.41

Set Take Profit at 1151.39 / 1143.86 / 1136.33

Set Stop Loss at 1166.45

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Survey Participants Look For Softer Gold Prices Next Week

 

The majority of participants in the Kitco News gold survey say they look for the metal to be on the defensive during the week ahead.

 

In the Kitco News Gold Survey, out of 36 participants, 19 responded this week. Of those, five see prices up, while 11 see prices down and three see prices sideways or unchanged. Market participants include bullion dealers, investment banks, futures traders and technical chart analysts.

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Hello Friends,

 

Mon, 17 Nov 2014

 

GOLD Forex Signal

 

Open BUY/LONG GOLD at 1194.91

Set Take Profit at 1201.72 / 1211.93 / 1222.15

Set Stop Loss at 1181.29

 

Open SELL/SHORT GOLD at 1181.29

Set Take Profit at 1174.48 / 1164.26 / 1154.05

Set Stop Loss at 1194.91

 

Trend Summary : BULLISH

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Gold Prices Expected To Rise Next Week – Survey Participants

Friday November 21

 

A majority of survey participants in the weekly Kitco News Gold Survey see higher prices next week.

 

In the Kitco News Gold Survey, out of 36 participants, 23 responded this week. Of those, 14 see prices up, while six see prices down and three see prices sideways or unchanged. Market participants include bullion dealers, investment banks, futures traders and technical chart analysts.

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