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Gold prices to continue losses to 2014 says Morgan Stanley

Posted on 11 October 2013

Morgan Stanley has forecast a continues further fall in the price of gold into 2014 as the Federal Reserve begins the process of tapering its bond buying programme. Morgan Stanley analyst, Joel Crane, speaking in a video report said: “We recommend staying away from gold at this point in the cycle. Our forecast profile heading into next year is relatively flat against our expectations of rising real interest rates and the U.S. dollar.”
In its quarterly metals report published on October 7, the corporation expected bullion to average $1,313 a ounce in 2014 down from the 2013 average of $1,423. Bullion is set to face its sixth weekly loss in seven, despite the US government shutdown. Indeed bullion may be heading for its first annual loss in 13 years falling by 22 per cent in 2013………………………………………..Full Article: Source


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