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

Hedging and smart buying seen if gold falls to $1,000

Posted on 13 November 2013

Wholesale gold bumped up to $1285 Tuesday lunchtime in London, reversing an overnight drop to fresh 3-week lows at $1277 as European stock markets slipped with government bond prices. “A slip through the six-month support line at $1270.16 will confirm our bearish outlook,” says Commerzbank’s Axel Rudolph.
“We could potentially,” says French bank Natixis’ precious metals analyst Bernard Dahdah, “see gold prices reach levels of $850 to $1,000. But this is our very low-case scenario.”……………………………………….Full Article: Source


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