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It could be a long summer ahead for gold bulls

Posted on 01 July 2013

Another round of lowered price forecasts for precious metals combined with more outflows from ETFs to spur yet another sell-off for gold and silver. A short-covering rally late in the week recouped some of those losses, but, absent a new catalyst to drive metal prices higher, the trend remains decidedly down as the gold price closed out its worst quarter in more than four decades.
Fears of the Federal Reserve winding down its money printing effort sooner rather than later, rising bond yields, declining inflation expectations, and a stronger dollar were all cited for last week’s decline. Perhaps more importantly, lower prices have not prompted another big surge in physical demand in Asia, traditionally the world’s biggest buyer of gold, and this does not bode well for gold and silver prices over the summer………………………………….Full Article: Source


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