Gold prices have eased below USD $1300oz this week, despite the tensions in Ukraine, Iraq, Syria and Gaza. Going into next week its hard to be anything more...

Jordan Eliseo

ABC Bullion

Gold prices have eased below USD $1300oz this week, despite the tensions in Ukraine, Iraq, Syria and Gaza. Going into next week its hard to be anything more than at best neutral on prices, with bears looking in control The Futures market had clearly gotten ahead of itself a week or so ago, though we can expect some of that froth to have dissipated in the past fortnight. ETF holdings have stabilised this year and we've even seen some inflows of late, with early July marking the largest increase in years. Key moving averages should prove somewhat supportive, with the 200DMA at USD $1285oz critical Finally, there's Asian physical demand, which has been weak lately (relative to the record levels of 2013), but should step up with the market below USD $1300 There's also a packed calendar including Q2 GDP, the FOMC and payrolls. Makes for an interesting 5 days coming up. (VIEW LINK)


2 topics

Jordan Eliseo
General Manager
ABC Bullion

Gold and precious metal bull since early 2000. Have spent +25yrs working in investment analytics, research & portfolio construction, with a primary focus on the role of precious metals in investor portfolios. Author of two books on investing in...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment