Goldman gold forecast steadies ETP nerves

Outflows are likely to slow further helped by a Goldman Sachs prediction that gold prices should steady for the rest of the year

The exchange-traded product market expects gold exits to slow further over the second half of 2013, after Goldman Sachs kept its gold price prediction steady for the rest of the year.

A note from Goldman Sachs this week predicted the price of gold will average $1,413 an ounce for the year, after the yellow metal shrugged off recent falls. Gold was trading at around $1,329 an ounce this morning, according to Bloomberg data, after sharp falls since February, including the biggest daily drop for 30 years in April.

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