17.08.2015 - Listen up, gold bugs: HSBC predicts a year-end recovery
The precipitous downturn in gold has taken the market to levels not seen since March 2009 but low prices may contain the seeds of the next rally, according to HSBC. The bank projects prices will end the year as much as 10 percent higher than current levels; gold closed at $1,114 an ounce on Friday. Gold has struggled to regain its allure this year, down 6 percent since January, as investors continue to shun the precious metal in favor of higher yielding assets such as equities. But there could be some light at the end of the tunnel, with HSBC offering food for thought on the possibility of a gold resurgence. In a report on Friday, the bank set out five reasons its experts believe gold prices could recover to $1,200 per ounce to $1,225 towards the end of the year...............................................Full Article: Source
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