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‘ETP outflows add downside risk to gold prices; average $1,500/oz in Q4 13′

Posted on 29 April 2013

Barclays expect gold prices to recover to an average $1,500/oz in Q4 13 but given the weight of cash negative ETP holdings, they believe downside risk still exists in the near term, and expects prices to average $1350/oz.
The key question here will be whether physical demand can continue to offset ETP outflows, which have shown no sign of slowing down. Gold ETP outflows have continued, hitting 150 tonsso far in April, bringing year-to-date outflows to 310 tonnes. This compares to net inflows of 279 tons in 2012, and outflows represent 11% of the peak holdings at the start of the year of 2767 tons………………………………………..Full Article: Source


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