13.12.2011 - Gold: Bullish for medium term; support at $1700, resistance at $1803/oz
Gold prices have been caught between soft physical demand, the relative strength of the dollar, and muted risk appetite. Physical demand responded to lower prices but has failed to provide a solid floor while investment demand has strengthened with ETP holdings close to record levels and central bank net buying continues. Indeed, the macro picture remains conducive for further price gains next year, given negative real interest rates and fears over inflationary pressures...............................................Full Article: Source
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