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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