Friday, 25 April 2014

Gold price breaks above $1300

Otmane El Rhazi, Friday 25 April:

The price of gold had a particularly volatile session yesterday, initially falling to a two-and-a-half month low of $1269.10 an ounce then rallying almost $30 to a high of $1298.60. The price action was summed up by Barrick Gold chairman Peter Munk, who said yesterday that he finds it impossible to predict the value of gold, even though he has been in the business for 30 years. As Munk put it: “I don’t care if you are Einstein, it is impossible to forecast [gold’s price] for a week from now and a year from now”.

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