Gold Still Holds The $1100 Ounces.

In the first month of this year, gold was more prominent than other commodities. Most retail investors and professionals thought gold prices would continue to rise.

Most of the 1051 people who participated in the online survey believe that the price of gold will go up next week.

Of them, 848 or 81% thought that gold would be more important next week; 142 or 14% would be bearish; 61 or 6% would remain neutral.

In the survey of professionals, 34 people were contacted, and 17 responded. 11 or 65% thought that the price would be higher next week. 5 or 29% thought that the price would go down, while 1 or 6% remained neutral.

Market participants include gold traders, investment banks, futures traders and technical analysts.

RJOFutures Phil Streible, senior market strategist, said

I'm surprised why the price of gold has not fallen by 15 dollars or more.

In Streible's view, the market keynote is that the recent surge in stock market is short-lived. Next week, the market uncertainty will return, and the stock market will continue to oscillate. Gold will benefit from it. "Now the outlook for gold is better than a month ago."

Sean Lusk, director of commercial hedge of Walsh Trading, agrees that although the stock market has been rising recently, the market is not calm, which will support gold "at present."

No one wants gold to be a flash in the pan.

Henry To of CB Capital Partners, CB capital partners, said he expects market turbulence to weaken next week, which is negative for gold.

"Investors will not be too nervous to withdraw based on tactical considerations.

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Colin Cieszynski, a senior analyst at CMC CMC (Markets), believes that although gold has improved in terms of technology, other markets will rebound, so it has a neutral attitude towards gold.

"The force recently withdrawn from the capital market due to panic will return to other markets in the medium term."

However, Lusk also adds that gold has to overcome some technical hurdles to gain momentum. It needs to challenge the 100 day moving average of 107.30 US dollars / ounce and the 200 day moving average 1136.50 dollars / ounce.

However, some analysts remain cautious and emphasize that risk sentiment will improve next week, which will take some upward momentum.