27.03.2013 - Gold prices likely to be range bound in second quarter – BNP Paribas
Gold prices are likely to stay within a range in the second quarter, given that the market has not reacted as expected to certain news events and that technical chart indicators are neutral, said a metals strategist at a French bank. The banking crisis in Cyprus and continued loose monetary policy by the Federal Reserve should have supported gold, but “instead the gold price only reacted mildly,” said Anne-Laure Tremblay, precious metals strategist at BNP Paribas. “At face value, gold should have attracted safe-haven demand from greater risk aversion and the suggestion that Cyprus’ solution could be deployed in other eurozone member countries,” she said, but added that gold prices haven’t reflected this...............................................Full Article: Source
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