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Gold Prices Can Still Surprise With A 'Strong Finish' In 2017

Friday, 17 November 2017 03:30 WIB Gold Outlook Gold Corner

Gold bears beware, prices could be setting themselves up for a 'strong finish' this year, says one analyst.' 'I remain constructive on GLD in the near term, expecting a strong finish to the year,' Boris Mikanikrezai, precious metals analyst at FastMarkets, wrote in a Seeking Alpha post on Wednesday. When forming his analysis, Mikanikrezai looked at net speculative positions on the Comex and exchange-traded fund (ETF) holdings. “Gold witnesses some upward pressure as the macro backdrop turns increasingly friendly for the PM complex,” he said. The most recent CFTC data showed that money managers raised their net long position for the first time in eight weeks between October 31-November...

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