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US Gold has possibility of slow return to $1370/85 per ounce: Barclays

Posted on 01 July 2014

Gold remains elevated above $1300 per ounce and provides a selling opportunity as prices are unlikely to sustain over a longer time frame. Barclays noted that gold prices still have the possibility of a slow return to $1370/85 per ounce levels. Price forecasts: Q2 2014:$1250/oz, 2014: $1250/oz.
Macro environment remains bearish despite recent gains on geo-political tensions whether it be Russia-Ukraine or Iraq. Barclays expects a rise in US payrolls this week by 250,000 which is higher than 217,000 of May………………………………………..Full Article: Source


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VRS - who has written 38561 posts on Opalesque Commodities Briefing.


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