Gold's Recent Rally Fails to Change Bearish Views

23 July 2013 23 July 2013

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Gold has continued to trade above 1300 in European session. The rally yesterday amid decline in the US dollar has sent mixed signals about the yellow metal's turnaround. Goldman Sachs has remained bearish over gold price, forecasting that it would decline further in the medium-term "given our US economists' forecast for improving economic activity and a less accommodative monetary policy stance".