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Gold price forecast cut by Citi as futures edge up

Posted on 22 January 2013

Gold futures inched higher Monday as U.S. markets were shut for the Martin Luther King Jr. holiday, and as Citigroup analysts cut their price target on the yellow metal for this year and next. In electronic trade, futures for February gold were lately up $2.70 to $1,689.70 an ounce, after having closed last week with a gain of 1.6%.
On Monday, Citigroup cut its outlook on gold prices for this year by 4% to $1,675 a troy ounce, and by 0.2% to $1,653 a troy ounce for 2014. Its silver price forecasts remained unchanged………………………………………..Full Article: Source


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