Sterling Smith, commodity trading adviser and vice president, commodity research, Citibank Institutional Client Group, is bearish gold.
FORBES: Survey Participants Have Mixed Outlook For Gold Prices Next Week
Technically, gold is quietly consolidating at the moment, said Sterling Smith, futures specialist with Citi Institutional Client Group.
FORBES: Comex Gold In Narrow Range While Awaiting FOMC Outcome
Gold prices could see some gains into the first part of next week, said Sterling Smith, commodity trading adviser with Country Hedging.
FORBES: METALS OUTLOOK: Higher Gold Prices Possible For Next Week, But Sustainability Questioned
Sterling Smith, market analyst and commodity trading adviser with Country Hedging, said he does not expect an immediate let-up in safe-haven buying.
FORBES: Metals Higher After Greek Austerity Vote; European Debt Worries Persist
There also seems to be less nervousness about holding risk assets, said Sterling Smith, commodity trading adviser and market analyst with Country Hedging.
FORBES: Comex Gold Futures Bounce Modestly As U.S. Dollar Weakens
With no hints of stimulus or quantitative easing, gold had nothing to pull it higher, said Sterling Smith, vice president, commodity research, Citibank Institutional Client Group.
FORBES: FOCUS: Gold Falls As Fed's Bernanke Doesn't Signal QE
Sterling Smith, commodity trading adviser and market analyst with Country Hedging, said unless gold can stabilize, more speculators may decide to pare back their gross long positions.
Further, platinum is a smaller market that tends to draw less investment interest than in gold, said Sterling Smith, analyst and commodity trading adviser with Country Hedging.
FORBES: Platinum/Gold Spread Offers Trading Opportunity, But Timing Could Be Difficult
Sterling Smith, futures specialist with Citi Institutional Client Group, outlined a number of ways gold could react in both directions, depending on how the Cyprus story plays out.
Sterling Smith, commodity trading adviser and market analyst at Country Hedging, said one weight on gold Wednesday was the retreat in the U.S. consumer price index, an inflation gauge.
FORBES: FOCUS: Gold Weaker As Investors Seek Cash As Safe Haven
If not QE3, some other type of action to further loosen monetary policy is increasingly expected from the Federal Reserve, said Sterling Smith, commodity trading adviser and market analyst with Country Hedging.
FORBES: Gold Surges As Weak Jobs Data Fuels Expectations For More Quantitative Easing
Sterling Smith, futures specialist, commodity research, Citibank Institutional Client Group, took a similar view as Barclays, saying it appeared that buyers stepped in at the low, which explained the lack of significant change in the data.
FORBES: FOCUS: Mixed Speculative Activity Seen In CFTC Data Following Metals Price Break
Pierre Meilhan, Joe Sterling, Karen Smith and Saskya Vandoorne contributed to this report.
CNN's Ben Brumfield, Ivan Watson, Laura Smith-Spark, Joe Sterling and Chelsea Carter contributed to this report.
CNN's Jessica Yellin and John King reported from Jerusalem and the West Bank, and CNN's Azadeh Ansari, Karen Smith, Michael Schwartz, Jason Hanna, Joe Sterling, Holly Yan and Paul Steinhauser contributed to this report, which was written by Tom Cohen in Washington.
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