12.03.2013 - Gold will reach a new record of $2000 later this year-Capital Economics
Investors were recently unnerved to see a particular signal at the end of last month, gold's "death cross", when the price's 50-day rolling average drops below its 200-day moving average. Two out of the last three such "death crosses" were followed by marked sell-offs reports Sydney Morning Herald. As sentiment turned more bearish, an eye-catching note from Goldman Sachs grabbed attention. The bank cut its forecast for the gold price this year to $1600 an ounce from $1810, and predicted that next year the price will be $1450. "The turn in the gold cycle has likely already started," the bank's analysts warned, pointing to "a quickly waning conviction in holding gold positions, especially ETFs"...............................................Full Article: Source
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