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Nomura thinks gold prices have reached a near-term equilibrium, making it a good time to try for...

Nomura thinks gold prices have reached a near-term equilibrium, making it a good time to try for a bounce in gold mining stocks (GDX). As a result, its analysts upgrade Randgold (GOLD -6%) to Neutral from Reduce, African Barrick  to Buy from Reduce, and Polymetal to Buy from Neutral. But the firm doesn't expect the good times to last, as it sees sellers dominating again by Q4 and sending gold prices down.
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Comments (2)
  • Papa Jupiter
    , contributor
    Comments (14) | Send Message
     
    For what reason is this supposed near term equilibrium?
    5 Jul 2013, 12:32 PM Reply Like
  • Rochelle Lynn
    , contributor
    Comments (19) | Send Message
     
    Here we go again, some talking head telling people to buy gold when the trend is still DOWN. Sell your gold, be patient and wait to buy back at $950-$1000 for your bounce. Then watch it go down to $800. The only thing you'll be doing here is helping some gold bull get out of his position on a bounce.
    5 Jul 2013, 01:11 PM Reply Like
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