Salient to Investors: Gold at the lowest price in 2 years on April 16, is triggering a frenzy among coin and jewelry buyers from the US to India, China and Australia. Mark Pervan at Australia & NZ Banking said gold may rise to $1,550 within 6 months on physical and investment demand. The Akshaya
READ MORE... →Salient to Investors: Bruce Zimmerman at Utimco said that in the 3 months ending February 28, his fund reduced bullion holdings of $1.4 billion by $375 million, and bought $75 million in gold futures, $225 million in developed-market equities and $75 million in emerging-market equity futures. Zimmerman said the fund’s total exposure to gold has not
READ MORE... →Salient to Investors: Coin sales by the US Mint are the highest since 2009 and Russia and Kazakhstan expanded gold reserves for a sixth month in March. James Steel at HSBC Securities (USA) expects physical demand from emerging markets to remain strong near-term, while their central banks’ growing appetite for
READ MORE... →Salient to Investors: Goldman Sachs: Lowered its 3- and 12-month return forecasts for the S&P GSCI index of 24 commodities to 2.5 percent in 3 months and 3 percent in 12 months, and cut its near-term outlook on commodities to neutral from overweight, amid prospects for weak global demand. Exited its
READ MORE... →Salient to Investors: Fareed Zakaria said: China and India consumers are taking advantage of the drop in prices to buy more gold. Gold bugs believe that central banks have been pumping money into the global economy for decades and that this will make money worthless. The total amount of gold
READ MORE... →Salient to Investors: Mohit Kamboj at Bombay Bullion Association said a rush in India to buy jewelry and coins will boost gold imports this quarter as traders and banks run out of inventory. The US Mint sold 153,000 ounces of American Eagle gold coins in April, the highest in almost three years. Tim Gardiner at
READ MORE... →Salient to Investors: Hedge funds have a net-short position on silver for the first time since at least 2006, but holdings in ETPs are within 1.3 percent of the all-time high reached in mid-March 2013. Silver entered a bear market on April 2. The median analyst expects silver to rise to an
READ MORE... →Salient to Investors: Jeff Currie and Damien Courvalin at Goldman Sachs says: The selloff in gold was sparked by investor concern that European governments may have to follow Cyprus in selling part of their holdings, and exacerbated by the drop below a key technical-support level at $1,530, and then below the
READ MORE... →Salient to Investors: The festival season in India, the world’s biggest gold consumer, runs from August to October and the wedding season runs from November to December and from late March through early May. Gaurav Mehta at Ambit said the fall in gold should alleviate to a significant extent one of
READ MORE... →Salient to Investors: Central Bank of Sri Lanka said falling prices are an opportunity for nations to raise gold reserves. The Bank of Korea said the gold price plunge is not a big concern because short-term price moves are an unavoidable risk and holding the metal is part of a long-term strategy for diversifying
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