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Gold will never rise unless this group starts buying
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Monday, May 11, 2009
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From Newsmax:

Gold prices appear to be too high for jewelers, according to an analysis by one of the globe's leading exchange traded fund (ETF) managers.

That leaves just investor demand, which is about a third of total demand.

Gold prices need to fall to between $800 to $850 an ounce to create interest among jewelers, Nicholas Brooks, head of investment strategy for ETF Securities, which manages $6.7 billion in gold held in exchange-traded funds, told Marketwatch.com.

The price of stood was at about $915 an ounce on Monday.

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Topics: Gold | Commodities
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