05.06.2013 - Investec lowers gold price estimate
Investec has capitulated to the recent movements in the gold price and chopped its price forecast for the metal for this year and up to 2016 to US$1,400. The South African broker had been one of most bullish gold forecasters for this year at US$1,650, but following the recent decline a more prudent estimate is now required it believes. The broker says there still remains sufficient macro-economic uncertainty for gold to go higher, but sentiment has been hit hard in recent months and this will have an impact on investment demand...............................................Full Article: Source
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