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Gold analysts most bearish since 2002

Posted on 22 January 2014

Gold analysts are more bearish than at any time since 2002 and expect an average price of $1,219 a troy ounce this year, according to a survey of industry forecasts by the London Bullion Market Association (LBMA).
The modest forecast price – lower than the spot price of $1,240 on Tuesday afternoon – is a reflection of the dismal recent performance of the yellow metal. After 12 consecutive years of price rises, gold tumbled nearly 30 per cent in 2013 amid a sell off in gold-backed exchange traded funds……………………………..Full Article: Source


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