The Phaserl


Glimmers of Hope Lay Scattered Amid the Gloomy Traders at the 3rd annual Dubai Precious Metals Conference

by Peter Cooper, Arabian Money:

The 3rd annual Dubai Precious Metals Conference came to a gloomy conclusion yesterday with participants voting for very little or no advance in the gold price this year after a lengthy panel debate between four experts, three of whom saw gold prices falling further before any possibility of an increase.

Even Ross Norman, ebullient CEO of Sharps Pixley and somebody with a very good record for forecasting, could not put gold above $1,350 an ounce by the end of the year and silver a few dollars higher. And yet there were plenty of reasons lurking in the shadows of the conference that might well bring a far better outlook. Gold prices, after all, are not actually noted for being flat and boring.

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