Gold News: No Clear Direction for This Week’s Kitco News Gold Survey
This week’s Kitco News gold survey has shown mixed feelings for the direction of gold prices. Half of the participants believe there will be a decline in gold prices this week, whereas the other half is divided between a price increase and unchanged prices.
The Kitco News gold survey is a weekly survey comparing multiple opinions on the direction of the prices for the week to come (dealers, investments bankers, traders…).
Geopolitical risks and unexpected good economic data seem to be currently the two main points that help participants pick the direction for gold prices: for instance,according to Phillip Streible, senior market strategist with RJO Futures “Gold prices should continue to see pressure into next week despite rising geopolitical risk and Argentine debt worries. The biggest headwinds are the recovery (in) economic data, improving housing and labor markets.”
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