30.05.2013 - Gold price target cut by 12pct, silver by 25pct
Strategists at Bank of America Merrill Lynch, who in April removed their $2,000 target for the price of gold, cut their forecast again. The "ongoing headwinds" to the fundamentals for gold and silver are "heavily influenced by the lack of bullish macroeconomic drivers," the strategists wrote in their latest global markets weekly note. After the recession, non-commercial market participants initially raised their exposure to precious metals because of fears that money-printing would boost inflation, and that the Federal Reserve was debasing the US dollar...............................................Full Article: Source
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