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HSBC forecasts gold rally to last into 2013

Posted on 23 October 2012

HSBC remains bullish on gold, forecasting the gold rally will last into next year, “supported by solid investor demand and high commodity prices.”
While HSBC lowered its 2012 average forecast to US$1,700 per ounce “in light of price weakness earlier this year,” HSBC analysts James Steel and Howard Wen raised average price forecasts for 2013 and 2014 to $1,850/oz and $1,775/oz, respectively. HSBC forecasts a gold price range of $1,550 to $2,000/oz in 2013………………………………………..Full Article: Source


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