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Morgan Stanley: Gold price Fed rally ‘just delaying the inevitable’

Posted on 24 September 2013

The gold price on Monday gave up more of the gains it enjoyed last week after the US Federal Reserve shocked markets by indefinitely delaying cutbacks to its economic stimulus program. In after hours trade the metal was changing hands for $1,323, down some $50 an ounce from highs last week following the announcement by the US central bank that its asset purchase program would continue at a rate of $85 billion a month.
US investment bank Morgan Stanley on Monday added to the negative sentiment, forecasting the gold price to average $1,200 to $1,350 next year before heading lower:………………………………….Full Article: Source


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