29.04.2014 - Morgan Stanley on gold: Still dour after a nasty year
The commodity strategists at Morgan Stanley write that record demand from China won’t be enough to keep gold’s price above $1,200 per ounce in the coming year, much less help it rise. On the contrary, the firm’s Joel Crane and six co-authors argue instance that weaker Chinese demand could the thing that causes prices to erode even more. Here’s how that could happen: The weakening yuan. The Chinese currency’s downswing reduces the purchasing power of Chinese consumers, cutting down the amount of gold each yuan can buy...............................................Full Article: Source
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