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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 e..

12 Dec 2013

NEW YORK (Commodity Online): Citi Research and UBS sees Gold prices to average $ 1,200 an ounce range next year.

According to Citi Research, gold prices will average $1,255 an ounce next year, falling early in the year on expectations for tapering of Federal Reserve quantitative easing but drawing support from continued Chinese buying.

Other factors prompting Western investors to reassess their exposure to gold include lower inflation expectations and a move from gold into other asset classes.

According to UBS, gold prices to average $1,200 an ounce next year, saying gold is hampered by investor selling interest and limited support to push up prices.

“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. The yellow metal’s performance this year highlights the extent to which gold has lost its allure and implies that it will take a very substantial change in the macro picture for this to be reversed,” said Joni Teves, UBS analyst via Kitco News.


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COMMENTS (1)
Charles Savoie
16 Dec 2013
Citing typical Pilgrims Society represented institutions yields the same bearish talk-down that has been taking place since 1902 on both sides of the Atlantic. Germany can't get its gold back for another six years---and prices will stay flat during 2014? City governments are becoming bankrupt, pensions of all types are in danger, the dollar is being repudiated by major nations---and gold will stay flat? Let me see who are the owners of Commodity Online, probably more Pilgrims Society entities. Instead of balking, look it up on Google. Most info is there due to me.
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