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Those gold bulls who had predicted that gold would only continue to boom in 2013 had their mouths shut when the yellow metal fell to a record low this year. As we wait for the birth of 2014, the commodity that is bein..

13 Dec 2013

NEW YORK (Commodity Online): As we come close to this year, it is time to take a look at the most volatile and valuable commodity traded on the global commodity exchanges. The hottest commodity that swung between bear and bull markets in 2013 was gold. Several commodity analysts lost their forecasting grip on gold as the yellow metal plunged in the middle of the year, before recovering to regain the lost ground.

Those gold bulls who had predicted that gold would only continue to boom in 2013 had their mouths shut when the yellow metal fell to a record low this year.

As we wait for the birth of 2014, the commodity that is being hotly talked about is gold, and gold only.

Here is a quick look at what the world’s leading investment banks have to say about gold for the year 2014:

Citi Bank:
Citi Bank says gold prices will average $1,255 an ounce in 2014. Tapering of Federal Reserve quantitative easing could lead to a fall in gold prices in the first quarter, but Asian buying spree led by China could lend support to the yellow metal prices.

Bank of America Merrill Lynch:
The bank predicts that gold will average $1,294 an ounce in 2014. The yellow metal could boom to touch a $1,350 average in the fourth quarter of 2014. The banks says that the upside remains limited for now, in part because none of the concerns that brought investors to the market post-recession materialized - for instance, inflation remains low and USD has not debased. Also, the tighter monetary policy in the U.S. and rising rates are hanging over the market and could push gold towards $1,100/oz in 2014.

Commerzbank:
The bank says gold price is going to be in a boom period in 2014, and predicts that the yellow metal could go up to $1,400 an ounce this year. It bases the argument on the investment demand for gold from Asian countries, especially China and India.

Goldman Sachs:
Goldman has an entirely differing forecast for gold compared to that of Commerzebank. It says that gold prices would considerably decline in 2014 to average $1,275 per ounce. The investment bank predicts that gold prices could slump to $1,050 by the end of 2014.

Canadian Imperial Bank of Commerce:
Gold will fall to $1,000 an ounce in 2014. The Federal Reserve tapering is driving gold to a slowdown. The bank does not see much recovery in gold prices in 2014.

UBS:
UBS is also not very bullish on gold for the year 2014. It predicts that gold prices could be around $1,200 per ounce next year, as there is limited investor interest in the yellow metal. “Gold is unlikely to regain its former appeal. The more upbeat outlook on the global economy, the reduction of tail risks, and the growing appetite to take on more risk suggests that safe havens like gold will become even more unfashionable up ahead,” UBS forecast said.

Standard Chartered:
Standard Chartered forecast on gold is on the similar ground of arguments like that of Goldman Sachs. It says US interest rates could pressurize gold, resulting in an average gold price of $1,200 an ounce in 2014.


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