Gold sell-off not over yet, silver could hit $10/oz
By GCRU Gold News on Monday, April 27 2015, 02:03 - Permalink
“A relatively strong dollar and expectations of US interest rate rises later this year lead us to the view that the macro-related sell-off in gold is not yet over,” it said in a report on Thursday. “We anticipate another push lower before consolidation and recovery takes place.”
But spot silver could hit multi-year lows as low as $10 if gold suffers from the US interest-rate normalisation, the bank warned.