Gold, trading near a record in London, may climb on concerns over the strength of the U.S. economic rebound and rising inflows into exchange-traded products. Silver pared gains after advancing to a 30-month high.
Gold’s “correction” was overdue and the metal may slide below $1,700 an ounce in the next few days before rebounding, said Daniel Briesemann, an analyst at Commerzbank AG.
"The subdued outlook for economic growth is perceived as being negative for commodity prices."
- Daniel Briesemann on Jan 14, 2015