There may be support for gold prices at the US$1,000 to US$1,015 per ounce level although overall, sentiment remains down as investors speculate on when the much anticipated US rate hike will happen.
Goldman Sachs Group Inc commodities research head Jeffrey Currie, who had advised investors to sell gold before prices started to fall in early 2013, told investors recently that prices could fall below US$1,000 this year on expectations that the US Federal Reserve would start to raise interest rates in the coming months, the first time since 2006.
A technical analyst said the price trend remained bearish and could go lower later in the year should the support not hold at above US$1,000. The next support level would then be at US$888.
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Goldman Sachs Group Inc commodities research head Jeffrey Currie, who had advised investors to sell gold before prices started to fall in early 2013, told investors recently that prices could fall below US$1,000 this year on expectations that the US Federal Reserve would start to raise interest rates in the coming months, the first time since 2006.
A technical analyst said the price trend remained bearish and could go lower later in the year should the support not hold at above US$1,000. The next support level would then be at US$888.
Click Here For Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance About KLSE online Feel Free To Mail Us at : info@epicresearch.my
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