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Five reasons why HSBC cuts gold, silver price forecast for 2013, 2014

Posted on 26 June 2013

HSBC Holdings plc has cut its gold and silver price forecast for 2013 and 2014 on late Monday. HSBC has listed 5 reasons for its downward revision to Gold and Silver prices: First, the discussion by the Fed of a tapering, or reduction, of its quantitative easing (QE) asset purchases was more aggressive than we initially envisaged, and has resulted in higher United States Treasury yields, which are traditionally negative for gold and silver.
Second, turmoil in emerging markets and the prospects of lower growth in China have weighed on bullion. HSBC economists cut their forecast of 2013 Chinese gross domestic product to 7.4% from 8.2% and 2014 GDP forecast to 7.4% from 8.4%………………………………………..Full Article: Source


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