Barclays: Gold may tumble below $1400/oz

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Source: Commodityonline

The sell-off of the yellow metal might drive the price even lower than initially predicted. The ETP gold outflows reached 14 tonnes being the highest since August. The gold price already has fallen below supportive 200 DMA indicating the increased probability of deeper fall. When the gold falls below its support of $1530/oz, the precious metal may easily tumble to $1400/oz, according to Barclays Capital Commodities Research.

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Mon, 19 Dec 2011 18:49:38 GMT

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