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Wednesday, March 12, 2014 5:13:56 PM
"Commerzbank’s commodity strategists, for their part, attempt to caution goldbugs that the fervor could be temporary:
"The rise in the gold price is likely once again to have been driven by speculation to a major extent, however, and is thus unlikely to continue unchecked. At present, physical gold buyers appear to be exercising restraint, as evidenced by the sluggish coin sales that have been seen for several weeks now in the US. What is more, gold in China is trading at a discount to world market prices. At the beginning of the week, the China Gold Association had already pointed out that domestic gold demand in the first quarter of 2014 could decline by 17% year-on-year to 250 tons."
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