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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold estimate cut at Morgan Stanley, prices buoyed by Fed policy

Posted on 24 January 2013

Low interest rates and quantitative easing will boost investor purchases of gold and buoy prices this year, Morgan Stanley said, even as it lowered its forecast for the precious metal. Platinum may advance as supplies tighten.
“We remain bullish on the gold price outlook in 2013 despite recent selling pressure triggered by market concerns of an earlier-than-previously-anticipated tightening in U.S. monetary policy,” analysts Peter Richardson and Joel Crane wrote in a report today. The bank expects gold to average $1,773 an ounce this year, 4 percent less than an earlier forecast. Prices may gain to $1,845 in 2014………………………………………..Full Article: Source


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