Barclays has said in a report that gold may continue to struggle, at least in the short term and gold failed to benefit at all as a hedge of fiscal cliff risks in late 2012
There are better days waiting ahead for copper and nickel in the field of electronics with the new invention of copper-nickel nanowires, which will be a perfect choice for printed electronics, developed by researchers in Duke University.
In 2012, gold has traded well beneath the all-time high of $1924 recorded in September 2011. As we have previously cautioned, a fall back to $1520- or even lower is certainly possible before gold resumes its long-term ascent.
At the Multi Commodity Exchange of India (MCX), commodities reeled under renewed Eurozone worries for the week May 07- May 11, 2012. Only natural gas gained, and that too an impressive 8.93% while the rest ended in the red with silver losing a hefty 4.19%
Gold prices are finding support on technical chart factors, with June Comex gold holding above the 10-day and 20-day moving averages, at roughly $1,646 and $1,652 an ounce, respectively, said Charles Nedoss, senior market strategist at Olympus Futures.
Labor shortages in the mining industry may constrain future gold output and have bullish implications for prices, said HSBC, a London based multinational bank, in a commodity research note.
Gold’s ability to hold up despite no indications of further Federal Reserve easing on the horizon, coupled with steady exchange-traded-fund holdings despite price declines in the last two months, are favorable signs for the metal, said HSBC in a commodity research note.
Having just returned from another visit to China, where I had the opportunity to talk with a number of “insiders” in the Chinese gold community, I am more convinced than ever that the country will continue to have a profound influence on the world market and future price for years to come.
Aluminum should continue to outpace other base metals in 2012-13, despite softer demand for the past two quarters, said BNP Paribas, a Paris based global banking group.
