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Gold to turn bullish only on couple of closes above $1695: Barclays

Posted on 22 January 2013

Gold will turn bullish only on a couple of closes above $1695/ounce, although the medium term trend looks bullish, according to Barclays Research. It has revised the price forecast for Q1 at $1710/Oz and 2013 annual average at $1778.7.
“Gold prices have crawled higher over the past week but lag the rest of the complex. Prices have been aided in part by the weaker dollar, ongoing central bank buying, and some signs of life in the physical market. But ETP flows remain lacklustre and are a key downside risk for prices. Upside potential for gold continues to linger toward the end of the first quarter,” Barclays said in their report………………………………………..Full Article: Source


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