India Analyst Sees Gold As Low As $1200

Mineweb reported that some analysts see gold consolidating at a much lower price before recovering again.

As quoted in the market news:

Most investors are holding gold in physical form or through ETFs backed by physical gold. If gold continues its consolidation even at these levels the daily cost of holding physical gold will start weighing and value of ETF units start declining which could trigger liquidations.

Click here to read the full Mineweb report.