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Morgan Stanley said ETF selling and a stronger dollar is the largest headwind facing gold, so should either trend ease, physical demand via jewelry sales and central bank buying could provide key support.
Feng Liang at GF Futures said prospects for the US economy remain positive and expectations for a withdrawal of QE support the dollar and weigh on gold. Liang said the initial wave of physical demand after the big price drop has eased and purchases tend to slow down as the price approaches $1,400.
The median analyst expects platinum to end the year at $1,690 and palladium at $800.
Read the full article at http://www.bloomberg.com/news/2013-05-28/gold-drops-with-silver-as-dollar-strengthens-before-u-s-data.html
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