Tuesday, October 1, 2013
Rising US Interest Rates Will Be Negative For Gold -- LBMA Delegate
Kitco News' Daniela Cambone speaks with Gerhard Schubert, Head of Commodities for Emirates NDB, about the current state of the gold market and what he expects to see in the coming months. "Gold is in no man's land," he says. "If you are long, there's no reason to sell. If you aren't, there is not a lot of reason to buy it unless it breaks $1,425." According to Schubert, the physical markets have remained strong and helped stabilize the yellow metal. "We do think gold will have another go towards $1,525 before the end of the year," he added. Tune in now for more LBMA coverage. Kitco News, October 1, 2013.