In the Kitco News Gold Survey, out of 34 participants, 21 responded this week. Of those 21 participants, 19 see prices up, while two see prices down, and none see prices sideways or unchanged. Market participants include bullion dealers, investment banks, futures traders and technical chart analysts. Gold prices august 19 2011.
Most traders who expect to see higher prices said people are seeking a safe-haven in the fresh concerns over the European banking system and until the situation there is seen as less dire, gold will find support. Gold prices prediction september 2011
“Gold is gaining both increasing attention and ironically, growing skepticism that its current move can be sustained. That is very bullish. Emotion is driving the thinking of the skeptics, rather than the important fact that gold remains undervalued,” said James Turk, founder of GoldMoney.
The few participants who see weaker prices said the thin volumes that have helped to push prices higher could just as easily cause prices to tumble if there isn’t fresh news to “feed the bull.” One participant said most of the bad news is in the market, which makes sustaining to moves higher more difficult. (source www.forbes.com ) For the latest updates PRESS CTR + D or visit Stock Market news Today
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