Economic news
Economy
Goldman Sachs cuts gold price forecasts, recommends short
position
Goldman Sachs cut its gold
price forecasts for a second time in six weeks on Wednesday, citing
expectations for an acceleration in U.S. economic growth and the metal's recent
lacklustre price performance.
The bank lowered its 2013 average gold price forecast to $1,545 an ounce from $1,610 and its 2014 price view to $1,350 an ounce from $1,490.
It also advised that investors close a long COMEX gold position, recommended in late 2010, and replace it with a short COMEX position.
The bank lowered its 2013 average gold price forecast to $1,545 an ounce from $1,610 and its 2014 price view to $1,350 an ounce from $1,490.
It also advised that investors close a long COMEX gold position, recommended in late 2010, and replace it with a short COMEX position.
Business
Google to invest $390 million in data center in Belgium
Internet search giant Google says it is investing 300
million euros ($390 million) to expand its continental European data center.
Google Inc. said Wednesday it will upgrade the facility in Belgium to meet growing demand for its online services.
The information underpinning Google's services Internet search requests, Gmail or YouTube is processed in industrial-scale data centers such as the Belgian plant in St. Ghislain southwest of Brussels.
Google says the center currently has some 120 employees and is one of the most energy-efficient facilities of its kind.
Google Inc. said Wednesday it will upgrade the facility in Belgium to meet growing demand for its online services.
The information underpinning Google's services Internet search requests, Gmail or YouTube is processed in industrial-scale data centers such as the Belgian plant in St. Ghislain southwest of Brussels.
Google says the center currently has some 120 employees and is one of the most energy-efficient facilities of its kind.
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