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  1. #1
    Veteran Member Ammeo's Avatar

    Gold predicted to drop another 10% in 2013 by HSBC !!!

    For all the guyzz who are Bearish on Gold can remain bearish, atleast thats what HSBC is saying. The Investment bank this week further downgraded Gold upon the less than expected demand and predicting it'll end 2013 at a further 10% decrease in its price. 2013 may prove to be an all-bearish year for gold.

    My latest trade on Gold..

    http://forums.binaryoptionsthatsuck..../6723-Gold-Put
    Last edited by Ammeo; 06-23-2013 at 03:07 PM.

  2. #2
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by Ammeo View Post
    For all the guyzz who are Bearish on Gold can remain bearish, atleast thats what HSBC is saying. The Investment bank this week further downgraded Gold upon the less than expected demand and predicting it'll end 2013 at a further 10% decrease in its price. 2013 may prove to be an all-bearish year for gold.
    By looking at the current situation it looks very true. Technically it looks strongly bearish and I dun see any good support before $1200. Market sentiments are strongly in favor of 1200 level.
    Lets see where fundamentals take it.

  3. #3
    Veteran Member Ammeo's Avatar
    Quote Originally Posted by M.J View Post
    By looking at the current situation it looks very true. Technically it looks strongly bearish and I dun see any good support before $1200. Market sentiments are strongly in favor of 1200 level.
    Lets see where fundamentals take it.
    Also the demand is very thin. Many big banks and hedge funds have called off trading in gold...currently there is nothing in it support..

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