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HSBC cuts gold, silver price forecasts for 2013 & 2014

Posted on 29 April 2013

HSBC lowered its gold forecast for this year and next on Friday, saying the recent tumble in prices for the yellow metal has dealt a severe blow to investor confidence, which may take many months to restore.The bank cut its 2013 gold price forecast to $1,542 per troy ounce from $1,700 and the 2014 price outlook to $1,600 per troy ounce from $1,720.
The bank, however, expects gold prices to stabilise after the recent rout as retail demand for gold lends support with rising jewellery and gold coin purchases from Asia………………………………………..Full Article: Source


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