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Gold seen crushed as Credit Suisse forecasts $1,100 in year

Posted on 17 May 2013

Gold, down 17% since January, is poised to lose 20% in a year as inflation fails to accelerate and with the worst risks to the global economy waning, Credit Suisse Group AG said.
Gold will trade at $1,100 an ounce in a year and below $1,000 in five years, according to Ric Deverell, head of commodities research at the bank. Lower prices are unlikely to lure more central-bank buying, said Deverell, who worked at the Reserve Bank of Australia for 10 years before joining Credit Suisse in 2010………………………………………..Full Article: Source


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