Barclays Sees Gold Taking Breather Before Continuing Run to $1,930 an Ounce

On August 16, 2011

Barclays Capital on Monday stated it is taking a cautious approach to gold following its recent pullback from recent rally highs of $1,814 an ounce. Barclays analysts are looking for a 3-4% further retreat in gold prices, which would take the metal to near $1,700. However, the investment bank cited strong underlying fundamentals for gold in establishing an a $1,930 an ounce medium term trading target. Read more

 
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