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HSBC cuts gold price outlook; joins list of banks cutting forecasts

Posted on 26 June 2013

HSBC (HBC) has joined the growing list of banks who are cutting their gold price forecasts, slashing its outlook on the metal’s price prospects late Monday. The bank cited the U.S. Federal Reserve’s plan to start tapering its gold-supportive stimulus program as one of the primary reasons for its cuts to its 2013, 2014 and 2015 gold price forecasts.
A stronger U.S. dollar, slower economic growth in major gold buyer China and lackluster physical appetite for the metal also contributed to its decision to reduce its gold price outlook, said HSBC analyst James Steel………………………………………..Full Article: Source


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