Others said if the equity markets can bounce and attract buying, that could give gold support, too.
FORBES: Higher Prices Expected For Gold Next Week -- Survey Participants
Steel said for gold, higher yields historically have pressured gold prices, while lower yields tended to support gold.
FORBES: FOCUS: Gold Market Focused On Fiscal Cliff--Safe Haven Or Risk Asset?
So far, market watchers said gold prices are not reacting to the heightened tensions there, but if it escalates, that could support gold prices.
FORBES: METALS OUTLOOK: Gold Prices Likely To Hold $1,700/Oz
Loosening an already-accommodative policy helps gold several ways, starting with weakness in the U.S. dollar that in turn tends to support gold and other commodities.
FORBES: Gold Extends Gains As FOMC Minutes Show Some Consideration Of More Easing
What could support gold is if the ECB embarks on a quantitative easing-type program.
FORBES: METALS OUTLOOK: Gold Market To Watch For Economic Data In Busy Week
Further, an environment of low and negative real interest rates tends to support gold, Tremblay said.
FORBES: Analysts Still Upbeat On Gold, Expect Some 'Sticky' Investment Even After Peak
For those who see higher prices, they said general strength in commodities this week should support gold.
FORBES: Survey Participants Split On Gold's Direction Next Week
If fiscal cliff talks drag on, it could support gold and pressure stocks.
FORBES: METALS OUTLOOK: Prices May Rise As Fiscal Cliff Talks Drag On, But Upside Limited
He said if geopolitical tensions escalate that might support gold prices, but only if it starts to affect oil prices.
FORBES: FOCUS: IAEA Report On Iran's Nuclear Programs Not Influencing Markets Yet
Gold has traded inversely with the U.S. dollar, and monetary easing tends to depreciate the greenback and thus support gold prices.
FORBES: Gold, The Silent Killer: Yellow Metal's Up Big And Could Rally Further
Today, HUGSS operates Fort Hood's new Gold Star Family Support Center.
The gold market was also rattled by a proposal last week that Cyprus sell some of its gold reserves to support its banks.
Peter Hug, global trading director at Kitco Metals, said it is too soon to tell if an ECB rate cut will help support gold prices.
Brian LaRose, technical analyst at United-ICAP, noted several levels of support gold prices need to hold to avoid seeing a sharp break or change in trend.
FORBES: METALS OUTLOOK: Weaker Trade Possible In Gold If Financial Markets Stabilize
Per capita incomes in China are rising, and many investors are using gold as a hedge, providing at least a modicum of fundamental support for gold prices long term.
The uncertainty that might surround what this group is doing could support gold, especially if it comes down to the last-minute, which could happen given past history of other Congressional decisions.
FORBES: METALS OUTLOOK: Gold Expected To Continue To Rise Next Week
Continued uncertainty over the economic health of southern European countries is expected to support gold prices next week, with the majority of participants in the weekly Kitco News Gold Survey forecasting higher prices.
FORBES: Most Survey Participants See Higher Gold Prices Next Week
Look for renewed dollar weakness to support gold.
FORBES: Technical Trading: Macro Risks Tilt Higher, Chart Support Holds For Gold
Most traders who expect to see higher prices said people are seeking a safe-haven in the fresh concerns over the European banking system and until the situation there is seen as less dire, gold will find support.
FORBES: Higher Gold Prices Seen Next Week - Survey Participants
No balance sheet expansion means less support for gold, which benefits from excess liquidity.
FORBES: Gold Is Back Big Time: Draghi And Bernanke Prime The Pump
Silver will find support from gold on rallies, but on its own, silver is on shaky ground.
Those higher inflation numbers were not enough to support the gold market, which has fallen this week.
FORBES: FOCUS: European Situation Overshadowing Economic News, Markets
Gold is seeing buying support coming from higher crude oil prices Friday morning.
FORBES: Comex Gold Firmer as Trading Remains Choppy; Bull Still Have Technical Advantage
If silver can hold its support, gold will likely follow, he said.
FORBES: METALS OUTLOOK: Gold Likely To Test Lower End Of Range
Early in the trading session gold saw some buying support coming from firmer crude oil prices that hit a fresh four-week high overnight.
FORBES: Comex Gold Ends Weaker On Firmer U.S. Dollar Index, Lower U.S. Stocks
News this week from the World Gold Council gives underlying support.
In the medium to long term, support for gold will come from production problems that curb the expansion of supply, in addition to persisting sovereign-debt issues, Commerzbank says.
FORBES: Market Nuggets: MKS: Gold Market Awaiting European Summit Thursday
Thus, it will continue to be a major underlying bullish factor for the gold market that could support the precious yellow metal for weeks and months to come, or even longer.
FORBES: Comex Gold Ends Weaker On Firmer U.S. Dollar Index, Lower U.S. Stocks
Both scenarios could offer underlying support for gold.
FORBES: Technical Trading: Gold Jumps On Cyprus Bailout Jitters
There appears to be some support for gold at the lower levels, said Afshin Nabavi, head of trading at trading house MKS Finance, who also expects gold to trade in the current range and test the upper boundaries.
FORBES: METALS OUTLOOK: Uncertainty Still A Hallmark For Gold; Market May Hold Range Bound
应用推荐