Gold Bears Defy Rally as Goldman Closes Short Wager

By Tony C. Dreibus 

Hedge funds accumulated their second-biggest bet against gold on record just as prices rallied the most in 15 months on surging demand for coins and jewelry and Goldman Sachs Group Inc. ended a recommendation to sell.

Majority Of Participants See Higher Gold Prices This Week

Gold Survey

Following last week’s surge in gold prices, the majority of analysts in the weekly Kitco News Gold Survey expect prices to continue to rise.

In the Kitco News Gold Survey, out of 35 participants, 24 responded last week. Of those 24 participants, 14 see prices up, while eight see prices down, and two see prices moving sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts.

Many of the participants were encouraged by the unprecedented demand in the physical gold market and the influence that’s had on lifting benchmark futures prices. Because of the $100-plus an ounce rebound from last week’s lows, they see values marching higher.

Gold Price Setters Battling Asia's Demand

NEWS ANALYSIS: 

BY CHRIS HART, APRIL 28 2013, 08:08

LAST week the gold price fell $200 an ounce in two trading days, almost reaching the $1,300/oz level (though it recovered by $150/oz this week).

First Half of Key Reversals

Silver and Gold Prices Posted the First Half of Key Reversals Today

Gold Price Close Today : 1,453.60

Gold Price Close 19-Apr-13 : 1,395.30

Change : 58.30 or 4.2%

The Whole World Is Talking About Gold

by Jan Skoyles - The Real Asset Co

This is our third release from The Real Asset Report. Here we take a look at how, despite calls that the gold bubble is finished, the whole world is still talking about buying gold.

Read any financial paper or website and they’ll tell you that the ‘gold-bubble’ is over. This opinion appears to be based solely on price and not much else.