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. 

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