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Gold sees downward pressure in short-term: NYMEX broker

Monday, March 05, 2012 - 02:01

Mar. 5 - Anthony Neglia, a floor broker at the NYMEX, says gold prices faces near-term downward pressure, but will break through all-time highs by August.

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-- at nymex front like -- -- to cope with Anthony de Leon look broker here. -- gold prices higher line here. Short term right now -- I'm looking towards says he mediate which was last Wednesday's low I feel that the inability to -- to rally above. -- -- -- -- -- What's prompting selling beyond text while the technicals plus there are still some that -- out there and I think that fact that they weren't able to get. Above that seventeenth when -- area is going to promote some continued selling. Coming in the next coming days Smart funny long as Smart money is long for the long -- Short term cash. What's happening. Actually against Brandon Huntley police what happens well -- this in the journal. These are rally. Probably challenging 18100000. -- failed to do last week. Depending on what Obama decides to do you with Netanyahu when he's going to commit to. It's going to. You know seek out the rest of the trend goes from there -- -- along on the market what you wanna come out Obama Netanyahu. Well I thought long you know you hate to be -- to -- on warm but obviously if we do -- true. Troops that will give you know some added support to the gold market. And you know send this upwards of 18100 dollars and above. -- market more volume -- us. -- right now as we speak less. But still the you know good volume on a daily basis Bristol and treatment on this summer I'm looking for about 2000 dollars we have some. Very strong commitments. In those in those strikes in the right here in the options options -- and so. I'm very confident that we will see 2000 dollar gold. And goods sold take out -- all -- -- yes without question what help time highways sat 1923 September. August I do believe we'll trade above 2000 dollars at any neck Leo thanks so much time thank you.

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Gold sees downward pressure in short-term: NYMEX broker

Monday, March 05, 2012 - 02:01