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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Can gold’s fragile recovery take hold?

Posted on 28 February 2013

Gold got hit by a double whammy last week – not only did the news come out that Funds controlled by George Soros and Louis Moore Bacon had reduced or offloaded completely some or all of their SPDR Trust and Sprott gold holdings in Q4 2012, but also some Fed governors gave the impression that perhaps the Fed’s QE programme might be nearing its end and monetary tightening – or rather less loosening – might soon be on the cards.
As we have pointed out before, some banks would undoubtedly come out with new assessments paring their gold price predictions – and sure enough Goldman Sachs analysts made what may prove to be an extremely ill-timed prediction that gold would slip further and accelerate downwards, sharply lowering their average gold price call for 2012 3-, 6- and 12-month gold price forecast by over $200 to $1,615/oz, $1,600toz and $1,550/oz from $1,825/oz, $1,805/oz and $1,800/oz………………………………………..Full Article: Source


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