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Forex Flash: The end of the Gold Era - Societe Generale

FXstreet.com (Barcelona) - Sebastien Galy, Senior FX Strategist at Societe Generale notes that his view on gold is somewhat more bearish than the prevaling market consensus.

Recently, he has highlighted that his central scenario for gold price activity for 2013, and that he forecasts that gold prices will average $1500/oz over the course of 2013 and will gradually drop to $1375/oz by the end of the year. He believes that this 15% fall is quite dramatic especially compared to the Bloomberg consensus forecast of $1752/oz by the end of 2013. Further, he feels that, in his opinion, the gold price is in bubble territory.

Forex Flash: Since peaking at JPY97.60, USD momentum has flagged - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that since peaking on March 12th near JPY 97.60, USD momentum has flagged.
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Forex: GBP/USD testing 4-day lows

The sterling is accelerating its descent on Tuesday, hovering over 1.5120/25 as risk aversion continues to grow bigger. Mixed data from the UK have also collaborated with the downside, after manufacturing PMI...
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