2 replies to this topic

[Rogerdodger]

Kitco Survey: 72% Bullish on gold

 

Both Pros and Street are Bullish

 

I used to follow this and think there will be some carry over early this coming week.

 

But when every gold trader is long, then what?

[fib_1618]

But when every gold trader is long, then what?

 

If prices are moving higher, then everyone is a winner!

 

The problem then becomes, however, is that the gold bugs will need fresh blood to keep the bids moving higher or the bear market default kicks in.

 

Fib

[Rogerdodger]

Gold Survey

Wall Street analysts (31%) expect a near-term pullback while retail investors (69%) remain bullish

Button said that high bond yields have been holding gold prices back, and the stubborn optimism of the U.S. consumer and equity markets is the reason.

"I think the main driver of the bond market has been better growth expectations in U. S. economic data, week after week," he said. "They delude themselves into the idea that there will be a soft-landing scenario, but it's hard to square that with inflation getting all the way back to 2 percent, unless you keep rates at 5 percent indefinitely and watch the long end rise.

 

Then you just try pricing a new normal with 8 percent U. S. mortgages, which just doesn't even work. And then you have to price in all these corporate business models that are based on cheaper debt, and so on and so forth."

Edited by Rogerdodger, 21 October 2023 - 11:48 PM.