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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Metals less precious in 2015

Posted on 07 January 2015

Gold prices are set to remain low in 2015, as South Africa’s platinum miners continue to recover from the 2014 strike. Most metals face re-strained prospects due to the expected slowdown in growth in China, a major resource importer. The gold price plummeted 28% in 2013 and hit a four-year low to reach $1,171.10 per ounce on 31 October.
This was two days after the US Federal Reserve ended its five- year bond-buying programme. Gold had held appeal as an inflation hedge during that period. Decreasing demand from China, the world’s largest gold consumer, coupled with expected interest rate rises in 2015, also depressed prices. US-based Citi Research revised its gold forecast for 2015 to $1,225, down from $1,365………………………………………..Full Article: Source


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