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Home / Metal News / Barclays remains bullish on Gold in short-term

Barclays remains bullish on Gold in short-term

iconJan 21, 2015 09:34
Source:SMM
Despite having an overall bearish outlook on gold prices for 2015, Barclays said that they are somewhat bullish in the short-term given the uncertainty in the marketplace.
UNITED STATES January 20 2015 5:35 PM
 
NEW YORK (Scrap Register): Despite having an overall bearish outlook on gold prices for 2015, Barclays said that they are somewhat bullish in the short-term given the uncertainty in the marketplace. 
 
“Unexpected break above the 1238 December range highs has compelled to pare back our bearish view in the short-term as safe-haven flow signals scope for a move higher in range,” Barclays said. “Risk is for a rally extension 
towards a cluster of resistance in the 1330 area where we would look for signs of a top." 
 
However, their long-term view on gold remains bearish and Barclays expects the metal to move back towards the range lows near 1131 and adding that a breach of that level would lead gold prices near the $1,090 level. 
 
Barclays believes the gold rally is likely to lose steam without a change in sentiment and wider investor support.
Barclays
gold price
Barclays gold price forecast

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