12.11.2014 - Gold price could fall to $800/oz: Metals merchant
Gold prices could tumble towards $800 to $900 an ounce, not seen since the 2008/2009 financial crisis, as the metal is no longer seen as a decent portfolio diversifier, metals merchant and hedge fund Red Kite said on Monday. Analysts and traders surveyed by Reuters last week predicted that prices could fall to $1,000 by the end of the year, revisiting that level for the first time since 2009. In the physical markets, buying in China – the top consumer – remained steady but at subdued levels on Tuesday. Local prices were about $1-$2 an ounce higher than the global benchmark, unchanged from the previous session...............................................Full Article: Source
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