Can gold confound the markets and hit $1,400?

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Can gold confound the markets and hit $1,400?

By Sri Jegarajah, CNBC


Edmund Moy, former director of the U.S. Mint, noted a recovery in physical buying from China and India would help drive gold higher.

Chinese demand “has recovered in April after a record pace in January and February followed by a slump in March,” Moy said. “India is also beginning to ease restriction on gold imports, which should result in increased gold purchases from pent up demand from the former top purchaser of gold in the world.”


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