Gold Market Close To A Pullback, Time To Take Profits – CIBC
By Kitco News
Tuesday March 11, 2014
(Kitco News) - As gold prices have risen more than 11% during 2014 and flirted with the a key level of $1,350 an ounce, CIBC World Markets thinks it may be a good time to grab profits before prices drop.
“We believe the current gold price rally is a bounce and that we could see a pullback,” the analyst wrote in a research note published Tuesday.
The bank analysts pointed out that at the start of the year they were calling for gold to hit an average price of $1,350 an ounce in 2014. At the time of their initial call, the yellow metal was trading around $1,205 an ounce.
To be able to hit their annual average target, the analysts said that gold would have to hit $1,500 an ounce, which is still a possibility, just not within the first part of the year. They said it’s “too early to push gold higher, we think.”
Gold_เจอข่าวแบบนี้ค่อยมีกำลังใจขึ้นมาหน่อยค่ะ.
By Kitco News
Tuesday March 11, 2014
(Kitco News) - As gold prices have risen more than 11% during 2014 and flirted with the a key level of $1,350 an ounce, CIBC World Markets thinks it may be a good time to grab profits before prices drop.
“We believe the current gold price rally is a bounce and that we could see a pullback,” the analyst wrote in a research note published Tuesday.
The bank analysts pointed out that at the start of the year they were calling for gold to hit an average price of $1,350 an ounce in 2014. At the time of their initial call, the yellow metal was trading around $1,205 an ounce.
To be able to hit their annual average target, the analysts said that gold would have to hit $1,500 an ounce, which is still a possibility, just not within the first part of the year. They said it’s “too early to push gold higher, we think.”