Salient to Investors:
Quincy Krosby at Prudential Financial is seeing momentum traders come in, while mixed US economic numbers and concerns about slowdown elsewhere have boosted demand for a safe-haven asset.
Goldman Sachs in February reiterated gold will fall to $1,050 by year-end, Westpac Banking predicts $1,011 in December. UBS said in February that gold has started to shed its stigma and increased its 2014 forecast to $1,300.
Hedge funds et al increased bullish bets to the highest since December 2012.
Bill O’Neill at Logic Advisors said gold fundamentals are very supportive and technicals look good.
Read the full article at http://www.bloomberg.com/news/2014-03-04/gold-bulls-run-for-1-400-as-ukraine-turmoil-fuels-haven-demand.html