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  1. #1
    Junior Member

    See gold at USD 1150/oz in near-term: Logic Advisors !!!

    If all of a sudden we see all the central banks going back to being accommodative, that could turn the market around.

    Bill O’Neill, Founder, Logic Advisors sees gold headed to the level of USD 1150 per ounce. He does not expect a snap back in gold prices in the near-term.

    Gold prices had declined Friday, tracking weakness in international gold prices.

    He says gold prices can recover on a big move in dollar acting as catalyst for gold prices, central banks globally going back to being accommodative and return of all big gold players.

    Meanwhile, gold has to reach the levels of USD 1400 per ounce to tell that the market has bottomed, he said.

    Excerpts of his interview on CNBC-TV18

    Q: How much lower can gold go?

    A: I don’t think that the physical demand for gold is that strong. We had a run of physical demand back in April. This is a market of psychology as you know over the years but the way demand from India has weakened after a period of some strength also so we are not seeing demand from them either. It is a market of psychology, this psychology continues negative. ETF liquidations are absolutely destroying the market; day after day we see the SPDR gold trust and other ETFs showing outflows. Until that starts the market is going to continue to be lower.

    Therefore, I think we are headed to USD 1150 per ounce for the short-term and then we will have to watch it. However, I don't see a big turnaround because we got this massive exit of commodities in general. It does feel commodities and metals in particular from funds they are reallocating their assets elsewhere.

    Usually, when you have those kinds of huge rotations it takes a while to reverse them. So, I wouldn’t look for some major snapback any time soon.

    Read more: http://www.yooarticles.net/article/s...logic-advisors

  2. #2
    Veteran Member Ammeo's Avatar
    One thing im sure of is that Gold is going to achieve its 1500-1600 level again. 2014 may start as the correction year for gold taking it back to the 1500-1600 levels in the coming 2-4 years.Demand is going to be the biggest question.Many countries and banks are on a very thin demand for gold but that may change with gold going to be at such bargain prices.

  3. #3
    Senior Member raymond09's Avatar
    At the end of this month. We see some bull in GOld for the first week in July. We expect 1334-1348 level with in this week. Last trading day of this month gold was able to break the major resistance 1224 level. Where now its is over 1234 level. Buyers are active enough. But its not mean that bearish movement is over. WWe expect Gold bellow 1100 with in the short time. So try to long from deep.

  4. #4
    Legendry Member Michael Hodges's Avatar
    Gold is attractively priced at this time, I mean really, it is down sooo much. However, i think that there will be a better buying time in the future. Not neccesarilly lower prices mind you but that is a real possibility as well. Gold is indicated lower and I see no reason for buyers to step in on Monday.

  5. #5
    Junior Member howard1's Avatar
    Quote Originally Posted by Michael Hodges View Post
    Gold is attractively priced at this time, I mean really, it is down sooo much. However, i think that there will be a better buying time in the future. Not neccesarilly lower prices mind you but that is a real possibility as well. Gold is indicated lower and I see no reason for buyers to step in on Monday.
    Gold is looking much more oversold than it should be in so tight period of time and that is the real reason why it should go up at least as a small correction, but you are right Michael that the buyers will not come immediately. They need time to realize that the price is a real bargain now, but when they realize that the price could be again much higher than it is now

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