Higher gold prices expected for next week —survey
Despite gold has lost more than a quarter of its value this year and looks certain to record its worst performance since 1981, 17 out of 34 gold dealers, investment banks, futures traders, money managers and technical-chart analysts predict gold prices head up next week.
The Kitco News Gold Survey results show 50% of the experts interviewed see gold moving slightly up next week to $1,230.
Short covering and the clearing of hedges may have triggered the modest gold rally, as the year-end draws near.
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Comments
Michael Cordell
Careful about the velocity of US Treasurys. The time is not here to call the bottom. Very soon, but be patient.