Gold Could Fall Below $1,700 If Merkel And Sarkozy Fail At EU Summit
- Tuesday, December 6, 2011, 0:36
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Friday’s all-important EU summit will dominate headlines and dictate market behavior this week, UBS’ precious metals analyst Edel Tully said Monday in a note on gold. The yellow metal is poised to rally in the event of a positive outcome, as its been trading alongside risk assets recently. A disappointing statement could result in a big price drop, sending gold below $1,700. Regardless, Tully sees a 2012 rally looming.
http://www.forbes.com/sites/afontevecchia/2011/12/05/gold-could-fall-below-1700-if-merkel-and-sarkozy-fail-at-eu-summit/
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