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Australia lowers gold-price outlook on tapering as U.S. recovers

Posted on 02 October 2013

Gold is expected to decline into 2014 as investors shift into other asset classes amid speculation that the U.S. Federal Reserve will slow stimulus, according to the Australian government forecaster.
Prices may average $1,275 an ounce next year from $1,439 in 2013, the Canberra-based Bureau of Resources and Energy Economics said in a report today. That compares with the bureau’s estimates in June of $1,340 for 2014 and $1,444 for this year. Spot bullion has averaged about $1,457 in 2013………………………………………..Full Article: Source


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