Most Analysts Expect Rally in Gold Next Week

January 4th, 2013 by

Bloomberg’s weekly survey of gold experts finds most of them expressing concern that a dysfunctional Congress will be unable to agree to fiscal reform, and predicting a rally in gold.

Of the 27 traders and analysts surveyed, 20 expect gold prices to rise next week, five see lower prices, and two are non-committal.  Frederique Dubrion, president and chief investment officer of Geneva-based Blue Star Advisors SA, is quoted as saying “There’s still a huge amount of debt. Gold is nobody’s liability, it’s the ultimate alternative currency.”

In the same vein, twenty experts responded to the Kitco News weekly gold survey. Twelve expect higher gold prices next week, 7 see prices declining, and one sees the market remaining near current levels next week.

by David Peterson