Gold prices slip but some experts say downside limited

SourceCNBC
SectorEconomy
CountryMiddle east

Gold futures on Wednesday were under some selling pressure amid a modest pullback in equities, but some experts forecast a recovery for bullion prices as questions about the state of the economy and lofty stock-market valuations persist. Commodity investors may gather more insights about the outlook for both after the Federal Reserve releases its account of its March policy meeting at 2 p.m. Eastern Time, about a half-hour after gold settles. Market participants are looking for clues about the Fed’s view on inflation and the possibility that the central bank could soon reduce its market-stimulative bond-buying program as a first step toward normalizing monetary policy. In the past five days, gold prices have recovered some ground after seeing a 12-month low in early March. “Trader and investor attitudes remain very upbeat at mid-week, which is a negative for the safe-haven metals,” wrote Jim Wyckoff, senior analyst at Kitco.com. “ However, losses in gold and silver will likely be limited in the near term as both metals’ near-term...read more...