Wall Street shifted its long term outlook on gold prices and now looks for the alloy to continue to fall in the hope of more U.S. Rate hikes, though Main Street still leans bullish, in accordance with Kitco News weekly gold survey. The Federal Open Market Committee wrapped up a meeting Thursday in which policymakers issued a statement saying economic activity remains strong, and suggested further gradual increases, in interest rates. This tends to underpin the dollargold most of the time moves in the opposite direction from the U.S. Currency.it isn’t a coincidence that gold is down sharply the day following the Federal Reserve said it’ll continue to increase interest rates, said David Madden, market analyst at CMC Markets.
20 market professionals took part in the Wall Street survey. Twelve respondents, or 60%, predicted affordable prices by following Friday. There were four votes each, or 20%, for sideways and higher. In the mean time, 370 people responded to an on-line Main Street poll. A total of 178 respondents, or 48%, called to rise. Another 109, or 29%, the predicted gold will fall. The rest 83 voters, or 22%, see the side market. Gold Survey Wall St. Flips To Bearish On Gold, Main St. Still Bullish Allen Sykora Allen Sykora Friday Nov 09, 2018 11: 18 Kitco News Sharethis article: Wall Street altered its long term outlook on gold prices and now looks for the alloy to continue to fall in the hope of more U.S.
Rate hikes, but Main Street still stinks bullish, according to Kitco News weekly gold survey. The Federal Open Market Committee wrapped up a meeting Thursday in which policymakers issued a statement saying economic activity remains strong, and suggested further gradual increases, in interest rates. This tends to underpin the dollargold most of the time moves in the opposite direction from the U.S. Currency.it isn’t a coincidence that gold is down sharply the day following the Federal Reserve said it’ll continue to increase interest rates, said David Madden, market analyst at CMC Markets. 20 market professionals took part in the Wall Street survey.
Twelve respondents, or 60%, predicted prices. There were 20%, sideways and for higher, or four votes each. Meanwhile, 370 people responded to an online Main Street poll. A total of 178 respondents, or 48%, called for gold to rise. Another 109, or 29%, the predicted gold could fall. The rest 83 voters, or 22%, see the side market. Kitco Gold Survey Wall StreetBullish 20% Bearish 60% Neutral 20% VS Main Street Bullish 48% Bearish 29% Neutral 22% During the trading week currently winding down, 53 percent of Wall Street and 57 percent of Main Street voters were bullish. As of 11 a.m.
EDT, Comex December gold was 1.6% lower for the week so far at $1, 213 that an ounce.I’m bearish for following week, said Kevin Grady, president of phoenix futures and Options. Gold is having difficulty holding onto its profits at these amounts. Technical Department @ 76176668 6 2. FREE MCX TIPS @ https://api.whatsapp.com/send? phone=9180776935 4 6. www.wilsoncommodity.com