Top Commodities - Gold Prices prediction Next week August 17 2015 : The
price of gold is likely to strengthen in the next week along with the
currency risk in the sector likely to continue post-devaluation policy
of China. Market participants are getting ready to hedge investment back with gold.The price of gold for December delivery, the most actively traded
contract, closed down 0.2 percent to US $ 1,112.70 per troy ounce on the
Comex division of the New York Mercantile Exchange launched the page
Wall Street Journal.The
price of gold has begun to bounce back above US $ 1,100 after the Bank
of China (BOC) devalued the yuan for three consecutive days. On the first day of BOC devalue the yuan by 1.9%, 1.6% the second day and third day of 1.1%.
Gold prices inched down at the end of this week, amid uncertainty over interest rate hikes by the Federal Reserve will, whether it will happen in the next month.
The price of gold has rallied to its highest level in three weeks at the beginning of this week, as some investors bet the Fed is more likely to wait after the devaluation of the Chinese currency makes currency and equity market turmoil.
The central bank said in July will raise interest rates for the first time in nearly a decade this year, if the US economic recovery continues.
Gold prices posted a 1.7% weekly gain, the most since mid-June. They saw the support Earlier in the week from improved safe-haven demand, China's Devaluation of the yuan, and a Weaker US dollar.
"The Kitco News weekly online survey shows that the majority expects to see higher prices in the near-term, after four consecutive weeks of bearish calls. This week, 316 people Participated in the survey. Of Reviews those, 181 people, or 57%, said they are bullish on gold next week; 88 of participants, or 28%, are bearish; and 47 people, or 15%, are neutral ...
This week, out of 33 market experts contacted, 14 Responded, of roomates 7, or 50%, said they expect to see higher prices next week. At the same time, five professionals, or 36%, said they see lower prices, and two people, or 14%, are neutral on gold. "
Gold prices inched down at the end of this week, amid uncertainty over interest rate hikes by the Federal Reserve will, whether it will happen in the next month.
The price of gold has rallied to its highest level in three weeks at the beginning of this week, as some investors bet the Fed is more likely to wait after the devaluation of the Chinese currency makes currency and equity market turmoil.
The central bank said in July will raise interest rates for the first time in nearly a decade this year, if the US economic recovery continues.
Gold prices posted a 1.7% weekly gain, the most since mid-June. They saw the support Earlier in the week from improved safe-haven demand, China's Devaluation of the yuan, and a Weaker US dollar.
"The Kitco News weekly online survey shows that the majority expects to see higher prices in the near-term, after four consecutive weeks of bearish calls. This week, 316 people Participated in the survey. Of Reviews those, 181 people, or 57%, said they are bullish on gold next week; 88 of participants, or 28%, are bearish; and 47 people, or 15%, are neutral ...
This week, out of 33 market experts contacted, 14 Responded, of roomates 7, or 50%, said they expect to see higher prices next week. At the same time, five professionals, or 36%, said they see lower prices, and two people, or 14%, are neutral on gold. "
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