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Commerzbank lowers gold price on slack ETF demand; silver, PGM price forecasts also cut

Posted on 22 March 2013

Commerzbank lowered its gold price forecast by 10% as it sees reduced demand by investors weighing on prices, the bank said on Thursday. The bank said while it has downwardly adjusted its gold price forecast, it still expects to see higher prices later this year, saying it is “premature to call the end of the bull market in gold.”
They also reduced price forecasts for silver, platinum and palladium, saying that price performance for those metals is “mediocre” when considering the strong exchange-traded fund inflows this year. However, they also see prices for these metals rising toward year’s end………………………………………..Full Article: Source


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