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Barclays: Macro environment supportive of gold prices

June 17 2011, 09:00

FMX Connect- WWW.FMXConnect.com (Reported on 6/17/2011)

Barclays: Macro environment supportive of gold prices

Source: CommodityOnline.com

Gold prices remain well supported despite the seasonal weakness in physical demand, says Barclays in an update. On the supply side, China's Ministry of Industry and Information Technology reported its gold output rose by 4.24% y/y for the year to April and was up 5.05% y/y at 29.819 tonnes in April alone.

“Even though supply from China remains healthy, it is outpaced by its demand growth, in turn keeping China a net importer of gold, a dynamic unlikely to shift in the near term, in our view.”--Barclays said. To read the full article, Click Here.

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