| The likelihood of continued selling by tactical investors and a lack of physical buying in China and India are expected to pressure gold this year, possibly to $1,000/oz, Bank of America Merrill Lynch said Wednesday. COMEX gold for April delivery closed $5.70/oz higher at $1,256.90/oz Wednesday.
"If investors stopped selling gold, prices could stabilize around $1,200/oz," BofA Merrill Lynch analysts said in a report. "Yet, this is not our base case, and a more likely scenario is for investors to continue reducing their exposure. Our models suggest that this could take prices down to $1,000/oz."..............................................Full Article: Source
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