20.10.2014 - Gold price upside limited in 2015 - Scotiabank
In the latest edition of the Scotiabank Commodity Price Index, published on Thursday, Scotiabank economist Pat Mohr observed, ““Spot gold prices fell as low as US$1,183 intra-day on October 5 - re-testing the previous low of US$1,180 on June 20, 2013 - after the Fed Chairman indicated that Federal Reserve Board would likely reduce its ‘asset purchase program’ in 2014 (quantitative easing),” Mohr observed in her analysis. “Miners continue to cut costs in today’s lower price environment - reducing ‘all-in sustaining cash costs for high-cost producers at the 80th percentile to no more than US$1,055,” she said. “While we think the upside on gold prices will be limited in the coming year, the successful re-testing of the previous low shows some support for gold,” Mohr suggested..............................................Full Article: Source
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