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Barclays maintains gold price forecast of US$1,710 in Q1 despite recent lows

Posted on 19 February 2013

Gold is struggling to find near-term support from external drivers despite the positive backdrop of low interest rates and global balance sheet expansion, according to UK-based Barclays Capital.
Gold hit a six-month low of US$1,612.25/oz on the London Bullion Market on Friday and fell further to close at U$1,610.75/oz on Monday. The absence of the Chinese market for the one-week new year holiday, combined with technical selling were the main reasons for the drop, according to Barclays. Demand from India also softened…………………………………….Full Article: Source

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