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BMO lowers 2014 gold forecast to $1,250, cites stronger dollar

Posted on 15 January 2014

A stronger U.S. dollar will weigh on gold values in 2014, BMO Capital Markets said in a research note on Tuesday, lowering its average gold forecast price to $1,250 an ounce from $1,275. BMO left its 2014 forecasts for silver and platinum unchanged. For 2015, it raised its forecasts for silver and palladium, but left gold and platinum unchanged.
The firm said it hiked its 2015 silver forecast “to reflect stronger (industrial) demand expectations from the U.S., as well as further cuts to mine supply forecasts from primary operations.” BMO upwardly revised its 2014 palladium forecast, saying mid- to long-term prices reflect a significant deficit market and it wants to retain a two times platinum to palladium ratio………………………………………..Full Article: Source


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