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Barrick Gold Corporation Message Board

  • moveproceed moveproceed Mar 15, 2013 3:34 PM Flag

    Next week Abx moves?

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    Higher prices for gold are expected next week, according to a majority of participants in the Kitco News Gold Survey, breaking a string of weeks where there was no dominant viewpoint regarding the direction for the gold price.

    In the Kitco News Gold Survey, out of 33 participants, 25 responded this week. Of those 25 participants, 17 see prices up, while two see prices down, and six see prices moving sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts.

    Many survey participants have turned bullish on gold prices for next week, with several suggesting that gold is building a base in the $1,570s, which is above the February low around $1,554 an ounce.

    Jeffrey Nichols, senior economic adviser to Rosland Capital, said momentum and technical indicators are firming, central bank buying and the whiff of inflation as seen in Friday’s consumer price index report could push gold over $1,600 an ounce. “Today’s reported acceleration in consumer price inflation, although to a significant extent caused by higher gasoline prices

 
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10.83-0.26(-2.34%)Dec 19 4:06 PMEST

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