Goldman Sachs sees Gold to drop to $1,144/Oz in 2014

Industry News 02:37:11PM Oct 25, 2013 Source:SMM

UNITED STATES October 24 2013 6:00 PM


NEW YORK (Scrap Register): Goldman Sachs said that it sees gold prices to drop to $1,144 an ounce level next year.

According to the Bank, yellow metal prices to drop next year mainly due to improving US economic data, rising real rates and the commencement of tapering of monetary stimulus by the US Federal Reserve.

The bank also cut its gold price forecast for third quarter of this year to $1,320 per ounce from its previous forecast of US$1,375.
 

Key Words:  Goldman Sachs 

Goldman Sachs sees Gold to drop to $1,144/Oz in 2014

Industry News 02:37:11PM Oct 25, 2013 Source:SMM

UNITED STATES October 24 2013 6:00 PM


NEW YORK (Scrap Register): Goldman Sachs said that it sees gold prices to drop to $1,144 an ounce level next year.

According to the Bank, yellow metal prices to drop next year mainly due to improving US economic data, rising real rates and the commencement of tapering of monetary stimulus by the US Federal Reserve.

The bank also cut its gold price forecast for third quarter of this year to $1,320 per ounce from its previous forecast of US$1,375.
 

Key Words:  Goldman Sachs