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Gold price to lose more gloss in 2014: GFMS

Posted on 17 September 2013

Gold prices are likely to contract further in 2014, after tumbling for the first time in more than a decade this year with the case for bullion undone by confidence in a stabilising global economy, a metals consultancy said on Thursday. In an update to its Gold Survey 2013, Thomson Reuters GFMS said the market could beat a retreat below $1,300 towards the end of 2014 as US monetary stimulus is withdrawn, fuelling talk of rising interest rates.
The consultancy expects prices to average $1,350 next year, down 7 percent from $1,446 in 2013, with support seen between $1,200 and $1,250. Markets are widely tipping the US Federal Reserve to start tapering its $85 billion monthly bond-buying as early as this month………………………………………..Full Article: Source


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