23.03.2012 - Gold consolidates but vulnerable due to rising yields, slack physical demand: UBS

Gold is consolidating and has held $1,640-an-ounce support, but nevertheless remains “vulnerable” after its recent pullback, said UBS in a research note. “Upside drivers are lacking and physical markets have yet to show a convincing response to lower prices. With U.S. Treasury yields still hovering near the recent highs, and U.S. data still beating expectations on balance, any gold recovery is likely to be limited,” UBS added...............................................Full Article: Source

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