psychological $1400 mark and shows no willingness to return to last week's lows
around $1322.06 (seen April 16). Joni Teves, precious metals analyst at UBS,
says the market will want to see more of a biddish tone "to rebuild the
confidence and trust that was damaged during the recent violent sell-off." Solid
physical demand has been "a significant component impacting sentiment, as well
as an important reminder that this demand can offer support during times of
weakness - a fundamental element ... not to be underestimated," she says. UBS
updates their 1-month price target to $1425, from $1725 prior and their 3-month
target to $1500 from $1850. FT's Alphaville notes that Goldman Sachs closed
their recommendation to short COMEX Gold, but maintained their bearish bias
towards the precious metal.
zrobili swoje i zabrali zabawki z piaskownicy
