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Gold prices likely to be range bound in second quarter – BNP Paribas

Posted on 27 March 2013

Gold prices are likely to stay within a range in the second quarter, given that the market has not reacted as expected to certain news events and that technical chart indicators are neutral, said a metals strategist at a French bank. The banking crisis in Cyprus and continued loose monetary policy by the Federal Reserve should have supported gold, but “instead the gold price only reacted mildly,” said Anne-Laure Tremblay, precious metals strategist at BNP Paribas.
“At face value, gold should have attracted safe-haven demand from greater risk aversion and the suggestion that Cyprus’ solution could be deployed in other eurozone member countries,” she said, but added that gold prices haven’t reflected this………………………………………..Full Article: Source


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