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Gold may retest $1,750/Oz level: HSBC

Posted on 12 October 2012

The path of least resistance for gold appears to be lower for the short-term, said HSBC Holdings plc (HSBC) in a commodity research note. According to the British bank, institutional investors give the impression of losing enthusiasm for another challenge of gold’s $1,790-1,800 an ounce price levels.
The first rush of gold buying on the back of the Federal Reserve’s third round of quantitative easing appears over, and with the euro back below $1.29, gold prices could retreat, possibly to $1,750 an ounce………………………………………..Full Article: Source


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