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Barclays cuts 2013 gold price forecasts

Posted on 02 July 2013

Barclays has lowered its gold price forecast for 2013 citing a weak second quarter, a recent sell-off and lack of investment buying. The bank expects an average gold price at $1,393 per ounce in 2013 with a predominantly weak third quarter. The bank earlier held a forecast of $1,483.
“Gold has been exposed to further downside following firmer equity markets, a firmer dollar and firmer-than-expected U.S. housing data, which has compounded the weakness after the hawkish Fed press conference,” Barclays analysts said in a note………………………………..Full Article: Source


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