| UBS trimmed its one-month target to $1,200/oz from $1,240/oz and its three-months price target to $1,170/oz from $1,200/oz due to a more bearish outlook for the gold price, the Swiss bank said Monday. The London Bullion Market Association Gold Price settled at $1,173.75/oz Monday morning from $1,175.75/oz Friday afternoon.
It had started last week at $1,216.75/oz. "Gold made its lowest weekly close since late November as the US employment reading beat expectations by some way and the dollar index strengthened to 12-year highs," said Mitsubishi analyst Jon Butler Monday in a separate note...............................................Full Article: Source
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