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ABN Amro lowers 2013, 2014 year-end precious metals price view

Posted on 27 June 2013

ABN Amro on Wednesday lowered its 2013 and 2014 year-end price forecasts for precious metals on expectations of softening prices and liquidation from investors due to lack of gains. “We expect investors to continue to liquidate positions this year also because technical indicators have turned negative on all precious metals,” ABN Amro analyst Georgette Boele said in a note.
“There is no reason for investors to hold precious metals as the outlook for capital gains are dim and they pay no income.” The bank lowered its 2013 year-end gold forecast to US$1,100 an ounce from US$1,300 and 2014 year-end price to US$900 from US$1,000………………………………………..Full Article: Source


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