Davis Hall, global head of precious metals at Europe's third largest bank says days of making "easy money shorting gold" is over.
The rally in the gold price lost some steam on Wednesday, after traders booked profits from the metal's strong showing in February and a stronger dollar curbed demand.
In lunchtime trade on the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at $1,329.80 an ounce, down nearly $13 from yesterday's close.
The metal hit a high of $1,345.60 early on, levels last seen in October. Gold is still up more than 10% in 2014 and a number of analysts have scaled back their bearish predictions for 2014. ...