| Despite an initial lift from safe-haven demand early in the year, gold remained overshadowed by dollar strength – markets continued to price in the start of higher interest rates in US later this year. Seasonally strong physical demand helped cushion the impact of speculative and investor disinvestment and will continue to do so into the second quarter.
But while this demand fades, gold will be increasingly vulnerable to downside pressure, we feel. Still, the dollar may have run ahead of itself so a period of dollar weakness could provide some lift. For the second quarter we are looking for a range of $1,170-$1,250 per ounce...............................................Full Article: Source
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