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The Financial Post reported CIBC lowered its outlook on the prices of gold and silver, stating the unlikelihood of a QE3 announcement by the U.S. Federal Reserve and a lower-than expected demand for gold from India.
The Financial Post reported CIBC lowered its outlook on the prices of gold and silver, stating the unlikelihood of a QE3 announcement by the U.S. Federal Reserve and a lower-than expected demand for gold from India.
As quoted in the report:
Gold and silver prices have suffered in the last few months, joining a broader decline for commodity prices as fears over a Greek exit from the eurozone pushed many investors into safety such as bonds or the U.S. dollar.
