Dr. Jeffrey Lewis, editor and publisher of Silver-Coin-Investor.com, published an article in which he questions the silver and gold price predictions from analysts at large investment banks, commenting that such outlooks "become focal points for a sector and often seem to carry with them some form of self fulfilling prophecy."
Gold Market News Directory
Gold fell 2.6 percent or $33.60 to $1,291.40 an ounce on Tuesday as investors sold off the precious metal, Reuters reported.
Gold rose 0.3 percent or $3.96 to trade at $1,322 an ounce on Monday, according to Reuters. Tensions in Ukraine continue to grow, as the country told pro-Russian separatists to disarm by Monday morning or face an anti-terrorist operation.
Gold fell 0.5 percent or $6.50 to $1,301.05 per ounce on Wednesday, according to Reuters.
Gold dropped 0.3 percent or $3.90 to $1,298.80 an ounce on Monday, according to Reuters.
This morning, gold rose 1 percent, or $12.91, to trade at $1,291.65 per ounce. Meanwhile, US gold futures for April delivery rose $11.40, to $1,291.40 an ounce.
Gold was steady on Tuesday at $1,284.30 an ounce as it recovered from earlier lows in Asian trade, according to Reuters.
This morning, gold rose 0.1 percent, or $1.29, to $1,294.65 an ounce. Meanwhile US gold futures for April delivery rose $1.40, to $1,295.20 an ounce.
Bloomberg reported yesterday that so far this month, Iraq has purchased 36 metric tons of gold worth about $1.56 billion. That's the biggest purchase of the metal by a nation in three years.
Bloomberg reported yesterday that according to data from the Hong Kong Census and Statistics Department, in February, China's gold imports from Hong Kong rose to 109.2 metric tons (MT), up from 83.6 MT the previous month.