Sharp Movement Is Coming! ”: Here are 18 Famous Analysts' Gold Predictions - News-Credit-Mortgage-Coin

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Saturday, February 13, 2021

Sharp Movement Is Coming! ”: Here are 18 Famous Analysts' Gold Predictions

 



There is a crisis of confidence in the gold market. Wall Street analysts and Main Street investors announced their expectations for the market. A strong majority of analysts expect a decline after the precious metal failed to gain critical gains above its $ 1,850 resistance per ONS. Gold prices may drop next week, according to analysts. However, most individual investors took a bullish turn in the yellow metal one week after sentiment dropped to a three-month low. 

Here are the gold predictions from 18 popular analysts ...

Colin Cieszynski: There isn't much demand for gold

Many analysts expect gold to remain under pressure in the near term, as investors focus on increasing momentum in stock markets. At the same time, analysts say many investors are turning to Bitcoin in an environment of low interest rates. According to analysts, BTC is trading at record highs as a potential new hedge against inflation. Colin Cieszynski, chief market strategist at SIA Wealth Management, said about the gold market:

THERE ARE NO MANY REQUESTS FOR SHELTER ASSETS AS INVESTOR CONFIDENCE IS HIGH AT TIME. BEYOND THAT, TRADERS SEEKING ALTERNATIVE TO US DOLLARS, APPEAR TO FOCUS ON BITCOIN AND OTHER CRYPTO CURRENCIES MORE THAN VALUABLE METALS.


14 analysts gave gold forecasts for next week!

14 famous analysts participated in an important survey this week. A total of 10 analysts, 71%, predicted that gold prices will decrease next week. Meanwhile, there was a link between uptrend and neutral analysts. It makes up 14% of analysts in both groups. Looking at Main Street investors, 1,257 votes were cast in the online poll. Of these, 644 or 51% said they were on the rise over gold next week.

Another 350 participants, ie 28%, said they are in a downward trend. 263 voters or 21% remained neutral on precious metals. While individual investors are rising above gold, the market is trying to attract new attention. Participation in weekly online gold surveys dropped to the lowest level since late October. Last week, 48% of individual investors were down in gold, while 64% of market analysts were in an upward trend.

Saxo Bank commodity strategy: We can see prices drop and test support

The gold market has struggled to gain a steady upward momentum last week as prices failed to gain above $ 1,850 per ONS. April gold futures are closing the week in a relatively neutral zone, with a 0.6% gain compared to last Friday.

Looking ahead, the failure of gold to keep the price above the initial resistance causes many analysts to look at support around $ 1,800 per ONS. Ole Hansen, head of commodities strategy at Saxo Bank, said that gold broke off key fundamentals such as falling real returns last week and a relatively neutral US dollar. Ole Hansen adds, in his comments on the subject:

I THINK GOLD IS NOW, IN WAIT AND SEE WHILE SEARCHING NEW INPUTS IN THIS ENVIRONMENT, WE CAN SEE THE DOWN PRICES AND TEST THE SUPPORT.

Phillip Streible: Any drop below $ 1,800 must be purchased
While some analysts expect gold prices to decrease in the near term, they add that this will offer investors buying opportunities. Here are gold predictions from Blue Line Futures chief market strategist Phillip Streible:

ANY DROP UNDER 1,800 DOLLARS MUST BE PURCHASED. BUT YOU DON'T WANT TO HAVE A FULL POSITION, YOU CAN START SMALL AND SCALE.



Bob Haberkorn: Yellow metal goes higher with one quick move
Bob Haberkorn, senior commodity broker at RJO Futures, states that prices are stuck in their current trading range. Bob Haberkorn said he was a bit bullish on gold. He also added that he sees any drop below $ 1,800 as a buying opportunity. Bob Haberkorn added the following to his comments on the subject:

GOLD'S PRICE MOVEMENT IS SOME MYSTERIOUS BECAUSE THE MARKET HAS STRONG RISE FOUNDATIONS. TECHNICAL PICTURE SIGNS THAT THE PRICES WILL DROP. BUT THERE MUST BE A SOME GOLD AND A SOME IRON IN THE FIRE AT THIS POINT. BECAUSE YELLOW METAL GOES HIGHER WITH A FAST MOVEMENT ...


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