Week POG OutlookPOG was up ~ $4 over week ago Firday close. I'd call that pretty much unchanged. So, it looks like Kitco experts got it about right (they called for unchanged). For the coming week, the Kitco experts are calling for
Gold May Hold In Sideways Trading Pattern Next Week.
KingworldNews still continuing with doom and gloom forecasts, same as last week last month and last year -- really I didn't see anything new for interviews worth watching or commenting.
Shanghai Gold price continues to track north american close with small premium/discount entirely accounted for by the time/information difference in closing times.
Shanghai Gold Exchange GOld Closing price wrote:
Shanghai Gold Exchange Gold Closing Price Versus Kitco Closing Price
Shanghai is interesting because last year there was typically a $20 premium on gold in Shanghai. But this year gold deliveries in Shanghai are actually down year on year for similar time periods.
Shanghai Gold Delivery From Vault YTD 2013 vs 2014
China and Russia are very close to signing a major gas/trade deal. The deal does NOT include the use of the US dollar for settlements. Should sign this week but the information must already be fully reflected in the current market prices.
For my prediction, I'm definitely against calling unchanged for the coming week. Kitco is IMO a contrary indicator and they are calling unchanged for the week. So, I'm leaning towards the POG tending down for next week (drop of more than $5). I don't think the Russia/China deal will close -- both are too hard *ssed negotiating and will hold for the last cent. China has a stronger hand IMO so they will squeese the bear.
Comments?