Gold gets closer to its turning point

The yellow metal appears to be close to a low point in the cycle.

Summary: The falling gold price is approaching the key level of $US1050 an ounce, which some investment banks say is the low point in its cycle. A strengthening US dollar makes the yellow metal look less attractive. But physical demand from China is firming and the Swiss central bank could be set to boost its holding, which would signal to other central banks that gold is back in favour.

Key take-out: If $US1050 an ounce is the bottom then gold is within 10% of the target. This level could encourage earlybirds to build positions ahead of any future turn.

Key beneficiaries: General investors. Category: Gold.



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