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Macquarie Lowers Full-year Gold Price Forecast
May 14,2015 10:46CST
industry news
Source:SMM
The Bullion Desk reported that Macquarie Group has lowered its full-year average price forecast to $1,231 per ounce, down 1.5 percent, prompted by the possible rise of US interest rates.

 Wednesday May 13, 2015, 9:12am PDT

The Bullion Desk reported that Macquarie Group has lowered its full-year average price forecast to $1,231 per ounce, down 1.5 percent, prompted by the possible rise of US interest rates.

As quoted in the market news:

"The bank lowered its full-year average price forecast to $1,231 per ounce, down 1.5 percent on its previous prediction, while keeping its 2016 forecast unchanged at $1,359.

It lowered its second-quarter expectation by 2.9 percent to $1,165 per ounce, its third-quarter forecast to $1,250 and its fourth-quarter estimate to $1,290.

The bank also lowered its silver price forecast by 0.7 percent to $17 per ounce, with the third- and fourth-quarter numbers down 1.4 percent at $17.25 and $18.25 respectively. For 2016, it left its prediction unchanged at $20.

Investors are increasingly pricing in a first rise in US interest rates, which have been near zero since December 2008, at some stage in 2015, Macquarie believes.

While an increase had been expected at the start of the second quarter, a run of forecast-missing data indicating in particular some slack in the US labour market appears to have steadied the Federal Reserve’s hand.

Click here to read the full The Bullion Desk report.
 

macquarie
US interest rates

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