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"It's a sea of red, " said Ira Epstein, a director at Linn Group futures brokerage.
WSJ: Gold Plummets to Two-Year Low
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Ira Epstein, director of the Ira Epstein division of The Linn Group, who said he sees prices for gold rising, said the rising tensions can be price-supportive.
FORBES: METALS OUTLOOK: Gold May Target $1,800/Oz Next Week
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Ira Epstein, director of the Ira Epstein division of The Linn Group, said he believes the inflation debate could be the next catalyst for higher gold prices.
FORBES: METALS OUTLOOK: Gold Prices Could Continue To Rise Next Week
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"Everybody that's bought for the past two years, since April 2011, is losing money, " said Ira Epstein, director of the Ira Epstein division at the Linn Group futures brokerage.
WSJ: Gold On Track for Biggest One-Day Fall Since 1983
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Ira Epstein, director of the Ira Epstein division of The Linn Group, cited quantitative easing and early expectations for improvement in Christmas-related sales as factors that may help commodities.
FORBES: Futures Veterans See Steady-Higher Commodities In 4Q; Favor Grains, Precious Metals
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Ira Epstein, director of the Ira Epstein division of The Linn Group, said in the near-term he believes the negative seasonal tendency for metals to slip will take over.
FORBES: METALS OUTLOOK: Mixed Outlook For Gold Next Week
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Ira Epstein, director of the Ira Epstein division of The Linn Group, said he expects gold prices to move sideways next week, too, but that the long-term outlook is up.
FORBES: METALS OUTLOOK: Gold Could Stabilize Next Week, But Analysts Cautious
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The central bank action has reignited the inflation debate, which is going to be the next catalyst for higher gold prices, said Ira Epstein, director of the Ira Epstein division of The Linn Group.
FORBES: Connect
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Ira Epstein, director of the Ira Epstein division of The Linn Group, added that gold may need a fresh catalyst or story to recover, and in the meantime is also being hurt by a stronger U.S. dollar, as are a number of other commodities.
FORBES: Expected U.S. Supercommittee Failure Hurts Gold In Move To Cash, But Supportive For Long Term