02.09.2015 - Gold forecast to drop to $800 an ounce in 2016
The overall sentiment towards the yellow metal will turn increasingly bearish next year and the prices are likely to hit below $1,000 by March, analysts have said. According to ABN Amro’s forecasts, the price of the bullion will trade hands at $1,000 an ounce by December this year. Prices will fall further in the coming year, with the rate hitting as low as $800 by December 2016. The forecasts were contained in the Dutch bank’s research note issued last week which also highlighted ABN Amro’s position that the precious metal’s safe-haven status has been reduced significantly. As of Tuesday morning, spot gold stood at $1,141 an ounce, up slightly by 0.6 per cent on weak equities and US dollar...............................................Full Article: Source
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