Saturday , 15 June 2024

Will Gold Top $1,800 This Week? Here Are 4 Reasons Why It Could

Gold flirted with an 11-month high early Friday, only to retreat after a strikingly positive jobs report. With gold up over 12% over the past three months, investor focus is returning to the shiny metal. Below are four reasons gold could break through the psychological $1800/oz. barrier this week. Words: 347

So says Plan B Economics ( in edited excerpts from the original post* on Seeking Alpha entitled 4 Reasons Gold May Break Through $1800 Next Week.

Lorimer Wilson, editor of (A site for sore eyes and inquisitive minds) and (Your Key to Making Money!), has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.

The post goes on to say, in part:

1. Trader bullishness is rising:

  • According to an October 5 Bloomberg survey, traders are the most bullish in three weeks. 20 of 32 traders participating in the survey expect gold prices to rise next week.
  • A similar Kitco survey shows 78% of traders are bullish on gold for next week.
  • Also, U.S. Commodity Futures Trading Commission data show that hedge fund bets on gold are the most bullish in seven months.
  • In the retail physical market, Bloomberg also reports that coin sales hit a nine-month high.

Who in the world is currently reading this article along with you? Click here

2. Chinese traders returning from Golden Week holiday:

  • Chinese traders — often a large source of demand for the metal — took last week off to shop and travel (a.k.a. get stuck in miles-long traffic jams). With Chinese traders returning to work, fuel may be added to the gold fire driving the recent rally further.
Go here to receive Your Daily Intelligence Report with links to the latest articles posted on
It’s FREE and includes an “easy unsubscribe feature” should you decide to do so at any time.
Join the informed! 100,000 articles are read every month at
All articles are posted in edited form for the sake of clarity and brevity to ensure a fast and easy read. Don’t miss out.
Get all newly posted articles automatically delivered to your inbox.
Sign up here.

3. Spain may be close to requesting a bailout:

  • Late last week, Spanish bond yields rallied as market participants anticipated a bailout request. Spain has been holding out, but may be approaching the point of no return, as budgets are stretched by an imploding economy and political power is threatened by growing social upheaval…
  • Spain’s request for aid would open the floodgates for even more ECB monetary easing. This would be positive for gold, and a Spanish bailout request could be made as early as next week.

4. Positive momentum:

  • Momentum begets momentum. Regardless of how little sense this makes (in my humble opinion), it is often a truism in the world of trading. Gold’s recent positive momentum is already attracting investor attention, as seen in the various trader sentiment surveys mentioned above. Compound this with the returning Chinese traders, and current gold momentum could have support.


The above four factors, especially when combined, could help drive gold prices through the $1800/oz. barrier over the next week.

*Source of original article:

Editor’s Note: The above post may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

Related Articles:

1. 2013 Gold Price Projection: $2250-$2550 By Q2


An objective and reasonable estimate for the price of gold at the next intermediate peak (estimating 2013 – Quarter 2) is $2250 to $2550 per ounce… This is not a prediction based on wishful thinking and hope, but a best estimate based on rational analysis of data back to 1975. The actual price for gold at its next peak could be higher or lower, and the peak might be earlier or later, but this price range and approximate time is, by this analysis, the most probable. Words: 1682

2. Gold Price Expected to Peak in June 2013 – Here’s Why

The 21 month time frame for the next gold peak, the $30 trillion price tag for the debt, and the 64 month bull market fractal for money printing are all coming together squarely at the same date – June 2013. Words: 1350

3. David Nichols: Expect to See $2,750 – $3,000 Gold By June 2013 – Here’s Why

The interim peaks in gold have been spaced 21 months apart over the past 6 years and have seen gains from 80.2% to 97.3%. As such, given the fact that the low of this last correction came in at $1,524 four months ago, we can expect gold to reach a new peak price of $2,750 to $3,000 in 17 months time (i.e. June/July 2013). [Let me explain in more detail.] Words: 976

4.  Is Gold About to Go Parabolic to $3,495 in June ’13; $10,899 in Sept. ’14 and Top Out at $32,659 on Jan. 16, 2015?

According to a recent Elliott Wave theory analysis gold is about to go parabolic reaching $3,495 in June 2013, $6,233 in April 2014, $10,899 in Sept. 2014, $18,712 in December 2014 and culminating in a parabolic peak price of $31,672 on January 16th, 2015! See the chart below. Words: 600

5. 50+ Analysts Project Gold to Reach $5,000 – $6,000 by Late 2014 or Early 2015

More than 50 analysts have been bold enough to include the year in which they think their peak price estimate will occur and they are listed below. Take a look at who is projecting what, by when and why. Words: 600