From Kitco:
UPDATE: Gold Trades Sharply Higher, Above $1,600, After Bernanke Remarks; Short Covering, Bargain Hunting, Safe-Haven Demand Seen
Comex gold futures prices are trading sharply higher in late-morning trading Tuesday and quickly regained the losses that occurred in the immediate aftermath of some stronger-than-expected U.S. economic data and amid remarks from Fed Chairman Ben Bernanke. While Bernanke's remarks were pretty much what the market place expected, they were nonetheless dovish on U.S. monetary policy, and what the precious metals market bulls wanted to hear from the Fed chief. In prepared remarks, Bernanke told a U.S. Senate committee that the benefits of a very accommodative monetary policy outweigh the potential risks of such, helping assuage fears the U.S. central bank could end its quantitative easing of monetary policy sooner rather than later. While the overall risk appetite in the market place appeared to uptick just a bit Tuesday morning, from that seen late Monday and overnight, the gold market scored solid gains from a "buy the dip" mentality among bargain hunters and safe-haven asset seekers. April gold last traded up $20.30 an ounce at $1,607.00.The Book of Revelation has the seals as:
The First Seal—Rider on White Horse
The Second Seal—War
The Third Seal—Famine
The Fourth Seal—Death
The Fifth Seal—Martyrs
The Sixth Seal—Terror
The Seventh Seal-Here's Goldman:
Goldman Sachs cuts 2013, 2014 gold price forecasts
Goldman sees gold at $1,600/oz in 2013 vs $1,810/oz
* Bank cuts 2014 price view to $1,450/oz vs $1,750/oz
* Reiterates call for turn in gold's bull cycle
Goldman Sachs cut its 2013 gold price forecast to $1,600 an ounce from $1,810 an ounce, saying the metal's recent price drop and an increase in U.S. real interest rates have led it to bring forward its projections for a decline in the metal.
If that projection proves accurate, it will mark the first year gold has recorded a lower average price year-on-year since 2001, when its record-breaking 12-year bull run began....MORE
