03.12.2012 - ABN Amro sees lower gold prices in 2013 and 2014
ABN Amro said it expects gold prices to drop substantially over the next two years on a modest increase in supply and slightly lower demand. Breaking ranks with other banks that expect gold to rise, ABN Amro said it sees gold averaging $1,400 per ounce in 2013 and $ 1,300 an ounce in 2014. The $1,400 price forecast would be down 18 percent from gold's price on Friday of close to $ 1,720. A slightly stronger world recovery in 2013 and 2014 should lead to a slight drop in gold demand, ABN Amro said in a note. "A stronger recovery is likely to underpin demand for jewelry and hence for gold, but a stronger recovery also means that it becomes more attractive to invest in other assets than gold."..............................................Full Article: Source
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