The worst for gold may be over: Bank of America Merrill Lynch
By GCRU Gold News on Tuesday, July 22 2014, 00:54 - Permalink
In a note to clients Monday, metals strategist Michael Widmer notes how gold prices GCQ4 -0.15% have stabilized this year thanks to steady physical demand from emerging markets — China and India absorbing mine and scrap supply — which has helped compensate for investor selling. In the future, he says, that balance will sway in gold’s favor:
“We believe that physical demand from emerging markets will gain further clout in the medium term as countries get more affluent, suggesting the worst may be behind the gold market.”