Frank Lesh, broker and futures analyst with FuturePath Trading, said central bank action is important.
FORBES: METALS OUTLOOK: Gold Could See Potential Bounce Next Week, But Market Watchers Cautious
Frank Lesh, broker and futures analyst with FuturePath Trading, said the technical charts look weak for gold.
FORBES: P.M. Kitco Metals Roundup: Weaker Technical Chart Picture Pressures Gold, Silver
Alan Bush, senior financial futures analyst at Archer Financial Services, said the rate cut was a slight surprise.
FORBES: FOCUS: RBA Rate Cut Doesn't Support Gold; Other Factors Influencing
Michael Gross, broker and futures analyst with OptionSellers.com, said a lot of the gold bulls were hoping for a third quantitative easing.
This prompted some concerns about future Chinese demand, particularly since the country has been a good source of buying, said Frank Lesh, futures analyst with FuturePath Trading.
FORBES: Gold On Defensive While Tracking Euro; Technical Weakness Also Cited
Gold bulls were encouraged when the minutes showed FOMC policy-setters had a discussion on whether to undertake QE3, said Frank Lesh, broker and futures analyst with FuturePath Trading.
FORBES: FOCUS: Gold Rises After FOMC Minutes Show Discussion About More Monetary Easing
Frank Lesh, futures analyst and broker at FuturePath Trading said after selloffs or moves of this magnitude, he looks for most commodities, including gold, to develop a trading range.
FORBES: METALS OUTLOOK: Gold Could Stabilize Next Week, But Analysts Cautious
As a result, some traders who had established long positions, or bought gold, on hopes for further quantitative easing are now exiting, explained Michael Gross, broker and futures analyst with OptionSellers.com.
FORBES: Gold Futures Extend Declines On Forced Liquidation; Potential Support On Horizon
This was due to selling related to disappointment from those longs who had been looking for some kind of announcement on quantitative easing, said Frank Lesh, broker and futures analyst with FuturePath Trading.
Frank Lesh, broker and futures analyst with FuturePath Trading, said he sees prices trading steady to lower next week as markets in general are consolidating and gold is starting to look technically bearish in the short-term.
FORBES: Market Participants Divided On Gold's Price Direction For Next Week
The economy is improving, but Jessica Hoversen, a foreign exchange and fixed-income futures analyst at MF Global, warns that the currency market may have already overextended itself in the short term, while long-term trends endanger the U.S. dollar.
Tintle, 35, is a broker and market analyst with Transworld Futures in Tampa, Fla.
FORBES: Jimmy Tintle's Trading Methodology Relies Upon Fundamental Analysis, Moving Averages
Jimmy Tintle, analyst at Transworld Futures, said the market has had a pretty decent correction as of late.
FORBES: METALS OUTLOOK: Weaker Outlook For Gold Prices Likely
Kurt Kinker, chief market analyst at Mirus Futures, said he believes the vote in Greece is having a negative influence on both stocks and the euro.
FORBES: FOCUS: Stocks Fall, U.S. Dollar Rises Following U.S. Election, European Worries
"After news that Cyprus is selling its gold, there's speculation that other debt-ridden countries might sell theirs, " said Joyce Liu, an investment analyst at Phillip Futures in Singapore.
Jimmy Tintle, analyst at Transworld Futures, sees higher prices.
FORBES: Gold Prices Could Rise Next Week -- Survey Participants
The industrial commodity slid over the last couple of months on macroeconomic worries, said Phil Flynn, senior market analyst with The Price Futures Group.
FORBES: FOCUS: Crude Oil Down In Recent Weeks On Supply Concerns; $80-$100/Bbl Range Expected
"There are so many factors, anybody can have an opinion about currencies, " says Nicholas Doumos , analyst with Alaron Trading, a Chicago futures brokerage.
Analyst Mike Zarembski notes that CFTC data shows speculators have cut their net length in gold futures.
FORBES: FuturePath's Lesh: Fed News Supportive For Gold, Despite Profit-Taking Pullback
应用推荐