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Rubicon Minerals Corporation Message Board

  • wolfman_jack_8830 wolfman_jack_8830 Sep 27, 2011 2:45 PM Flag

    09/27/11 - 10:39 AM EDT

    Barclays Capital says that the larger backdrop for gold remains unchanged and is "still gold-fertile." The firm says that the eurozone is still behind the curve in tackling its ballooning debt issues. "Macro insecurity amid low interest rates continues to be supportive for gold beyond the near-term weakness."

    Most experts are now waiting for physical buying to kick in from China and India as both countries are in the midst of numerous festivals which gives consumers lots of reasons to buy gold. Barclays is expecting demand from India to cushion any deep gold price fall.

    China is also preparing for its National Day, a week-long holiday starting October 1st, which is typically a strong gold buying period. The Shanghai Gold Exchange raised margins to 20% from 15% during the period to help combat volatility but they will return to normal by October 10th.

    http://www.thestreet.com/story/11260346/1/gold-prices-rally-on-bargain-hunting.html?cm_ven=GOOGLEN

 
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