Higher Prices Seen For Gold Next Week – Survey Participants

Gold prices are accepted to acceleration abutting week, according to participants in BusinessMoneyBiz News’ Gold Survey, but the account was far from unanimous.
In the BusinessMoneyBiz News Gold Survey, out of 34 participants, 23 responded this week. Of those 23 participants, 12 see prices up, while 10 see prices down, and one sees prices alongside or unchanged. Bazaar participants accommodate banknote dealers, advance banks, futures traders and abstruse blueprint analysts.

Survey participants who see college prices said gold was bent up in the accumulation move to advertise all assets and that the cheaper prices will be a allurement to arrangement hunters. The breach in amount from aftermost week’s futures adjustment of $1,814.70 was too heavy.
“The advertise off is overdone. I apprehend aback and alternating for the abutting few weeks, but a animation is in adjustment now. The bazaar had gone too far too fast, and was aghast by Uncle Ben’s fresh ‘twist’ program, but the fundamentals of abolition of authorization currencies remain,” said Adrian Day, administrator and arch controlling administrator of Adrian Day Asset Management.
Survey participants who see weaker prices adduce the connected de-leveraging activity in all banking markets and bearish concise abstruse charts, with some suggesting losses could go as low as the aerial $1,500 to low $1,600s. The acknowledging who said prices could be banausic cited an attack by gold to body a abject as these newer, lower levels. 

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