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Gold Struggling To Break Range, Headed Into Weakest Quarter – Barclays
May 26,2015 16:36CST
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Source:SMM
As gold struggles to break its range, Barclays analysts say that the metal is headed into its hardest quarter yet.

Author: Paul Ploumis25 May 2015 Last updated at 22:50:02 GMT

(Kitco News) - As gold struggles to break its range, Barclays analysts say that the metal is headed into its hardest quarter yet.

“We maintain the view that Q3 15 is likely to be the weakest quarter for gold, given that we expect the Fed to start increasing rates in September, but the potential downside is likely to be limited, given we enter the seasonally strong period for consumption,” they say in Barclays’ Gold Delta report Monday morning.

“As we enter the seasonally slow period, physical demand is likely to offer a deflated cushion,” they explain.

Looking closer at the eventual U.S. interest rate hikes, the analysts say they expect the Federal Reserve to make a move twice before the end of the year, which would help strengthen the U.S. dollar and, in turn, hurt gold prices.

The report adds that Barclays expects gold prices to average around $1,190/oz this quarter and $1,183/oz for the year.

Courtesy: Kitco News
 

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