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Major selloff likely if gold price can't hold $1,800


Major selloff likely if gold price can t hold $1,800
issacjohn@khaleejtimes.com
Filed on February 17, 2021
Experts said that gold s peak is likely to come in the second quarter with prices averaging the three-month period around $2,100 an ounce
Gold’s failure to breach the $1,850 an ounce level so far in 2021 and another retreat below $1,800 could open the floodgates to more selling, analysts warned on Wednesday.
In global markets, gold prices fell near two-week lows on Wednesday amid a stronger dollar and hardening of US bond yields. Spot gold was down 0.2 per cent to $1,791.36 per ounce.
However, analysts at Bank of America do not rule out a potential for gold prices to push above $2,000 an ounce in 2021. Maintaining their forecast for prices to average the year around $2,063 an ounce, they said that gold s peak is likely to come in the second quarter with prices averaging the three-month period around $2,100 an ounce. ....

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With Record Prices Ahead, Should You Be Panning for Gold ETFs?


With Record Prices Ahead, Should You Be Panning for Gold ETFs?
SPDR Gold MiniShares (NYSEArca: GLDM) enjoyed some solid performances this year and more of the same could be in store for gold bullion in 2021.
Even after this year’s rally, the spot gold price is still below historical all-time highs when adjusted for inflation, and the precious metal has historically outperformed during periods of high inflation. The price gains have been supported by strong growth in global investment that partially offset weakness elsewhere amid ongoing Covid-19 disruptions. Additionally, the lower demand for jewelry has shown signs of recovery, which may add another layer of demand ahead. Meanwhile, year-to-date inflows into gold-backed ETFs have hit record levels. ....

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TMZ acquires Australia's Highest Grade Undeveloped Silver Asset