Medium To Long Term Confidence
Fri, Jul 10, 2009
Gold Investing News reports gold prices may decline in the next couple of weeks and start climbing up again in the future.
Although gold is facing some headwinds, the overall financial environment remains bullish for gold.” In their recently published Metals Matters, ScotiaMocatta has noted that IMF gold sales are now all but inevitable, as a result of a recently enacted bill that will allow the IMF to sell 403 tonnes of gold to increase its finances. The market expects the sales to be conducted under the umbrella of a Central Bank Gold Agreement (CBGA), ScotiaMocatta said.
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