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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold prices to remain subdued

Posted on 03 October 2013

Investors have been told to get used to gold prices below $US1300 an ounce, with Australia’s top commodities forecaster predicting the yellow metal will stay there until 2018 at the earliest. The gold price slumped in the past 24 hours to its lowest price in two months, fetching $US1290 an ounce on Wednesday evening.
After a decade-long rally, gold prices suffered a correction in 2013 and the Bureau of Resources and Energy Economics has dismissed the chances of a rebound. In its latest quarterly report, the bureau predicted gold would fetch an average of $US1275 an ounce in 2014 and remain below $US1300 an ounce until 2018 at the earliest………………………………………..Full Article: Source


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