Dull Market Might Be Best Outcome For Gold - LBMA Panelist

Despite a panelist at this year’s London Bullion Market Association (LBMA) conference being relatively bearish on gold prices, he did still see a case for the yellow metal as an insurance policy for investors. Neil Meader, director for U.K.-based Metallis Consultancy, told Kitco News that he expects an extended period of sideways pricing for gold as markets await the U.S. interest rate hikes. 'But there are a whole lot of potential time bombs out there and why sell an insurance policy if something could go bang in the next couple of months, year or so,’ he noted. In order for Meader to turn bullish on gold, he said the metal would need to close off the year at least at $1,250 an ounce 'because that would signal that we’ve really broken out of [its] range.’ Looking at the other metals, he said he remains most optimistic on palladium as the fundamentals remain positive. October 22, 2015. (show less)

Despite a panelist at this year’s London Bullion Market Association (LBMA) conference being relatively bearish on gold prices, he did still see a case for the yellow metal as an insurance policy for investors. Neil Meader, director for U.K.-based Metallis Consultancy, told Kitco News that he expects an extended period of sideways pricing for gold as markets await the U.S. interest rate hikes. 'But there are a whole lot of potential time bombs out there and why sell ... (read more)

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