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Commodities Briefing - Categorized | Bullion/Gold, Trading more

Gold traders split as rout resumes in bear market: Commodities

Posted on 28 June 2013

Gold traders are divided on the outlook for prices, with some judging that the slump to a 34-month low following the Federal Reserve’s comments on tapering stimulus will spur demand for coins and jewelry.
Fifteen analysts surveyed by Bloomberg expect prices to rise next week and 14 were bearish. Three were neutral. Gold fell 13 percent in the past two weeks, reaching $1,196.98 an ounce yesterday, the lowest since August 2010. The metal is poised for the biggest quarterly drop in at least nine decades after investors cut bullion holdings to a three-year low………………………………………..Full Article: Source


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