The were right this time !
Wall Street, Main Street Upbeat About Gold Prices
25, 2019 11:26
(Kitco News) - Wall Street and Main Street both look for
gold to rise next week, according to the Kitco News gold survey.
Traders and analysts cited a number of political and geopolitical uncertainties, as well as an expectation the U.S. Federal Open Market Committee will now be more cautious about raising interest rates. Policymakers are scheduled to meet next week.
“I believe next week is a make-or-break week for gold,” said Richard Baker, editor of the Eureka Miner Report. “After two early attempts this month to break and stay above the mercurial $1,300-level, it is likely this time that the yellow metal will succeed on its push-pull ascent to $1,380-plus in the first half of 2019.”Eighteen market professionals took part in the Wall Street survey. There were 13 votes, or 72%, calling for higher prices. One respondent, or 6%, said lower, while four, or 22%, said sideways.
Meanwhile, 266 respondents took part in an online Main Street poll. A total of 126 voters, or 47%, called for gold to rise. Another 77, or 29%, predicted gold would fall. The remaining 63 voters, or 24%, see a sideways market.
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