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Gold price split: Gartman sees $1000, HSBC’s steel $2000

Posted on 18 June 2013

Gold bullion is an “ageing athlete” and “a broken commodity” on its way to $1000 per ounce, according to Dennis Gartman, founder and publisher of trading advisory The Gartman Letter.
On the contrary, James Steel, chief commodities analyst at HSBC in New York, sees gold rising to $1600 per ounce in the second half of 2013, before rising above $2000 per ounce longer term. According to Steel, speaking to Bloomberg last week, jewelry demand used to drive the gold price. But now it is bullion demand and increasingly investment demand from China that drives the gold market………………………………………..Full Article: Source


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