04.03.2014 - HSBC maintains $1,292/oz gold price forecast for 2014
HSBC is keeping its 2014 average gold price forecast unchanged at $1,292 per ounce, the bank said, and sees the metal ranging between $1,120 and $1,390 this year. Physical demand for jewellery, coins and bars from China and other emerging markets is now driving the price, it said in a note on Monday. And while ETF outflows have moderated, investment demand for gold remains tepid, it added. “The gold market is still finding its equilibrium after last year’s price plunge, which ended a bull run,” chief precious metals analyst James Steel said...............................................Full Article: Source
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