| Has gold lost its sheen? For most of this year, it has been trading in a range around $1,200, and analysts expect the price to drop in the third quarter. "The worst is to come for gold," says Suki Cooper, head of metals research at Barclays in New York. She says the gold price could drop to an average of $1,150 in the third quarter. The world’s largest gold ETF, SPDR Gold Shares, was down 0.82% year-to-date at the end of May, and trading at $112 at the end of June, compared with a peak of $129 over the previous 12 months.
Part of the drop is due to seasonal demand, but also as a result of a stronger dollar and a Fed interest-rate hike on the cards. "Other asset classes are just more interesting – particularly for Chinese investors," says one gold trader. Even with concerns about Greece, the price of gold cannot seem to get upward momentum...............................................Full Article: Source
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