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Frustration as Gold fails to climb $1800, solace in Central Bank buying: Sharps Pixley

Posted on 29 October 2012

Gold traders look frustrated at gold failed to climb through the $1800 mark but the market awaits the much bigger event-US Presidential election on November 6 for further developments, Austin Kiddle, Sharps Pixley said in a note.
Even as gold market sentiments remained subdued, news of more Central Bank gave cause for cheer. Brazil added 1.7 tons in September while Turkey added 6.8 tons. Brazil last added gold in December 2008. The buying is expected to continue given the lower prices and currency risks in the developed world………………………………………..Full Article: Source


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