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HSBC cuts gold forecast, sees recovery later in 2013

Posted on 25 March 2013

HSBC cut its gold forecast for this year and next on Monday after the metal’s weak start to the year, but said ultra-loose monetary policy in the United States and elsewhere meant it remains positive on prices overall. The bank lowered its 2013 gold price forecast to $1,700 per ounce from $1,760 and the 2014 price outlook to $1,720 per ounce from $1,775. It sees the metal trading between $1,525 and $1,825 an ounce this year.
Gold prices are down 4 percent in the year to date, primarily due to investor expectations the Federal Reserve would curb its US quantitative easing (QE) programme, and have fallen for the last five months straight……………………………………….Full Article: Source


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