-
Gold rout seen bottoming by analysts as China buys
The rout in gold that wiped out $56 billion of value this year is spurring consumer demand in China and India, the biggest buyers, and leading JPMorgan Chase & Co. and Bank of America Corp. to say prices are bottoming. Sales of jewelry, coins and bars will reach as much as 1,000 metric tons in India and China in 2013, valued at a combined $87.6 billion, the World Gold Council estimates. Prices will average $1,300 an ounce in the fourth quarter, or 5 percent less than now, the median of 17 analyst estimates compiled by Bloomberg shows. Bank of America is the most bullish, predicting a fourth-quarter average of ... (full story)
- Comments
- Comment
- Subscribe
- Comment #1
- Quote
- Aug 21, 2013 8:54pm Aug 21, 2013 8:54pm
- PA is King
- Joined Jun 2013 | Status: Member | 2571 Comments
- Comment #2
- Quote
- Aug 21, 2013 9:04pm Aug 21, 2013 9:04pm
- wave5
- | Joined Dec 2012 | Status: Member | 23 Comments
- Comment #3
- Quote
- Aug 21, 2013 9:11pm Aug 21, 2013 9:11pm
- jaygee
- | Membership Revoked | Joined Jul 2010 | 2713 Comments
- Comment #4
- Quote
- Aug 21, 2013 9:15pm Aug 21, 2013 9:15pm
- PA is King
- Joined Jun 2013 | Status: Member | 2571 Comments
- Comment #5
- Quote
- Aug 21, 2013 9:16pm Aug 21, 2013 9:16pm
-
anton.olff
- | Joined Jan 2009 | Status: Ex-pat New Yorker. | 138 Comments
"The market can remain irrational longer than you can remain solvent"
- Comment #6
- Quote
- Aug 21, 2013 9:21pm Aug 21, 2013 9:21pm
- jaygee
- | Membership Revoked | Joined Jul 2010 | 2713 Comments
- Comment #7
- Quote
- Aug 21, 2013 9:23pm Aug 21, 2013 9:23pm
- jaygee
- | Membership Revoked | Joined Jul 2010 | 2713 Comments
- Comment #8
- Quote
- Aug 21, 2013 9:26pm Aug 21, 2013 9:26pm
- PA is King
- Joined Jun 2013 | Status: Member | 2571 Comments
- Comment #9
- Quote
- Aug 21, 2013 9:35pm Aug 21, 2013 9:35pm
- jaygee
- | Membership Revoked | Joined Jul 2010 | 2713 Comments
- Comment #10
- Quote
- Aug 21, 2013 10:12pm Aug 21, 2013 10:12pm
-
Freevestor
- | Commercial Member | Joined Aug 2013 | 49 Comments