Gold May Advance to Record, Barclays Says: Technical Analysis
This article is for subscribers only.
Gold may advance 9.6 percent to a record $1,485 an ounce by the end of the year, according to technical analysts at Barclays Capital.
“Strategically, we are bullish,” the bank said. “Medium-term trend followers are unlikely to have been panicked out of their positions given that important support between $1,314 and $1,331 is still holding,” according to a report dated yesterday by analysts including Philip Roberts.