- "We continue to expect further gains over the course of 2014, helped by strong demand from China and an eventual easing of the import ban in India," says Capital Economics' Julian Jessop. "In the meantime, safe-haven demand for gold has revived a little as a result of the turmoil in emerging markets.”
- Up 1.2% to $1,315 per ounce, gold is ahead more than 4% on the week and over 9% YTD. The metal has also crossed its 200-day moving average, which could force technical buying, writes the team at Commerzbank.
- The $1,200 level is one of strong support, says Jessop, noting it's where gold stabilized during its bear market last year and it's at that price where a significant number of gold mines become unprofitable. He continues to forecast a price of $1,450 for year-end.
- Also having a big day is silver, up 3.4% to $21.08.
- GLD +1.1%, SLV +2.9% premarket
- ETFs: GLD, SLV, AGQ, IAU, PHYS, SIVR, USLV, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DSLV, DBS, DGZ, AGOL, GLDI, DGLD, SLVO, TBAR, USV, UBG, GLDE, GYEN, GEUR, GGBP
Are you Bullish or Bearish on ?
Results for ()
Thanks for sharing your thoughts.
From other sites
at Nasdaq.com (Feb 19, 2015)
at Nasdaq.com (Feb 11, 2015)
at CNBC.com (Feb 6, 2015)
at Nasdaq.com (Feb 3, 2015)
at CNBC.com (Jan 16, 2015)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs