gold prices will down next week april 9-13 2012

gold prices will down next week april 9-13 2012, gold futures forecast april 9-13 2012, gold prices april 9-13 2012, spot gold next week april 9-13-2012, gold prices fundamental analyst april 9-13 2012, gold prices outlook april 9-13 2012, gold technical-chart analysts ; Gold rebounded modestly on Thursday following its largest two-day decline in over a month. COMEX gold futures, per the May contract, settled up by $16.00, or 0.1%, at $1,630.10 per ounce. the yellow metal posted a weekly loss of 2.5%.

Silver futures moved higher alongside gold on Thursday, by $0.69, or 2.2%, to $31.73 per ounce. For the week, gold’s sister precious metal dropped 2.3%.

The recent sell-off in gold has been accompanied by a notable drop in sentiment toward the yellow metal. The latest weekly Bloomberg survey of gold analysts, traders, and investors showed the largest bearish reading since December 30. Fifteen of 29 participants predicted the price of gold will decline next week, 5 forecasted no change, and 9 expected higher prices in the coming week.

From a contrarian perspective, the rising bearish sentiment is a positive sign for gold prices – particularly based on recent history of the Bloomberg survey. On December 30, 2011, the yellow metal had only one day earlier reached a multi-month low of $1,523.90 per ounce. Over the next month, gold futures surged to as high as $1,750.60 per ounce.

Nonetheless, although the data is an encouraging sign, only with the benefit of hindsight can one truly say if a significant bottom actually formed in the price of gold. In addition, sentiment is only one of many bullish or bearish factors that can influence even short-term movements in gold.

Kitco News Gold Survey next week april9-13 2012
In the Kitco News Gold Survey, out of 33 participants, 24 responded this week. Of those 24 participants, eight see prices up, while nine see prices down, and seven are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts.

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