29.05.2015 - Gold price to test $1,100/oz imminently – ANZ
Gold lacks direction at present but could break lower to test $1,100 in the very near term, ANZ said. “The right signals might be just around the corner,” the bank said in a note on Thursday. “To us, a downside break of the $1,180-1,220 per ounce range looks imminent.” Gold has predominantly traded in a $1,175-1,225 range this year and was last little changed from the start of 2015 at $1,189 per ounce. But the US Federal Reserve is on course to raise interest rates this year or early in 2016, which would raise the opportunity cost of holding gold and push investors into more yield-bearing assets.......................................Full Article: Source
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