19.06.2013 - Gold ETP sales "will cut gold to $1200"
Gold prices will end 2013 at $1200 per ounce because of increased sales from exchange-traded products, according to analysis from a major investment and bullion bank. Societe Generale analysts sees gold ETF and other investment trust-fund sales continuing to the end of the year, leading the price of bullion to drop to $1200 per ounce. The bank's previous year-end forecast was $1375. "We believe that the dramatic price drop in mid-April was the beginning of the deflation of a bubble," say Michael Haigh, Jesper Dannesboe, and Robin Bhar, pointing to "speculation [that] the US economic recovery will mean less [monetary] stimulus."..............................................Full Article: Source
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