| HSBC is "cautiously optimistic" of the gold price outlook for 2015, predicting a trading range of $1,120/oz-$1,305/oz with an average price of $1,234/oz, the bank said late Tuesday, March 24. "The possibility that deflationary pressures could bring on negative rates in some economies helps reaffirm our cautiously optimistic view on gold," head analyst James Steel said.
However, in Steel's view gold prices are not "entirely hostage" to monetary developments. "The recent price slump below $1,150/oz may be encouraging greater demand from price sensitive emerging market buyers, notably, but not exclusively, in India and China," Steel said...............................................Full Article: Source
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