Gold market update for Monday, April 29. Gold is slightly higher today as physical demand continues to support the metal’s impressive rally. Gold had its best weekly showing since January 2012, surging over 4.2%. While physical demand from investors and jewelers is so high that shortages are being reported, ETPs continue to see outflows. And while the post-bloodbath rally is impressive, HSBC still lowered its average forecast, saying that “..capitulation in the gold price dealt a severe blow to investor confidence, which may take many months to restore.” Read more…
Gold Climbs as Higher Physical Demand Counters Decline From ETPs
April 29, 2013 by