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Gold ETFs continue to plunge

Posted on 27 June 2013

Since the beginning of the year, gold has been moving deep into negative territory, plunging 26% so far. Gold has broken its major support level of $1250 per ounce, suggesting a bearish outlook for the yellow metal. This marks the biggest annual decline in more than three decades.
Gold gained immense popularity over the past twelve years, but now that a QE3 exit appears to be on the horizon, it could be a game changer for bullion. The worries over the early end of the Fed’s stimulus program as a result of an improving economy is keeping the metal under pressure, tempering its safe haven appeal………………………………………..Full Article: Source


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VRS - who has written 36729 posts on Opalesque Commodities Briefing.


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