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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

HSBC’s Steel says gold over $1,600/oz in 2013

Posted on 17 June 2013

James Steel, chief commodities analyst at HSBC in New York continues to be constructive on gold in the medium and long term and sees gold rising to $1,600/oz in the second half of 2013.
Steel said that this year the gold market has been under pressure and has experienced a rotational shift out of commodities in general driven by the constant chatter of a tapering off in QE and experienced very steep declines in mid April. He likens it to a rugby scrum pulling back and forth near the $1/400oz level, between ETF outflows and strong physical demand for coins and bars, notably from China……………………………………..Full Article: Source


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