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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold is medium term bullish, support $1718, 1700: Barclays

Posted on 13 November 2012

Barclays Research which had admitted last week that it had gone wrong in its estimation of gold prices in 2012, in its latest update has pointed out that the yellow metal is now medium term bullish supported by Obama Victory and uncertainty surrounding the fiscal cliff.
On the other hand, major gold purchasing just before Diwali is not indicated on softer Indian Rupee andi importers have refrained from purchases occassionaly buying on dips, Barclays report pointed out. Price forecast: Q4 2012: $1810/oz, 2012 annual average: $1691/oz……………………………………….Full Article: Source


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