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Gold vunerable to further ETF selling

Posted on 26 June 2013

The gold market looks set to remain under pressure with a slew of investment banks cutting their price forecasts after the spot price last week sank below the $1,300 an ounce mark, dropping below another psychologically important support level.
Goldman Sachs, Credit Suisse, UBS, Morgan Stanley and Deutsche Bank have all lowered their gold price forecasts following the Federal Reserve’s signal that it was preparing to scale down its bond buying programme, a shift which has led to US Treasury yields moving significantly higher and to upward pressure on the dollar………………………………………..Full Article: Source


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