You Are Here: Home >> Business >> Investment >> United States >> Gold to average $1,800 in 2013 and $2,000 in 2014, CIBC...

Gold to average $1,800 in 2013 and $2,000 in 2014, CIBC forecasts - Wealth Managers

January 25,2013


"Major fiscal imbalances" and currency devaluations are positive for bullion prices

Gold to average $1,800 in 2013 and $2,000 in 2014, CIBC forecasts - Wealth Managers

1

Continuing economic uncertainties and challenges in production will contribute to a rise in average gold prices to US$1,800/oz this year, according to CIBC analyst Alec Kodatsky.

The outlook for yellow metal prices remains "very constructive," Kodatsky told a CIBC investor conference in Whistler, Canada, with "fragile" global economic growth "built on a lot of stimulant policies" which "will not be around forever."

"Major fiscal imbalances" remain in "most if not all major economies," he said, with currency devaluation continuing in the US, China, Japan and Europe, resulting in "positive indications" for gold.

A third wave of quantitative easing (QE) in the US alone is likely to boost yellow metal prices by US$20 to US$30/oz per month if it follows trends of previous QE phases. ...

CIBC recently lowered gold price guidance to US$1,800/oz this year, with US$2,000/oz expected in 2014 and longer-term prices expected to be US$1,500/oz.



461

views

Contact

Richard W Davey Organization

Richard Davey

Featured Sections

Explore more in Gold to average $1,800 in...

Share with your friends

Tell your friends the great news you've just found!



Unable to connect the network ,please try again.

Please enter the right code in the image!

Congratulations!

Your message has been sent to your friends.

Contact to the author

Send a message to the author!



Unable to connect the network ,please try again.

Please enter the right code in the image!

Congratulations!

Your message has been sent to the author.

Report to Free-Press-Release.com

Report to Free-Press-Release.com



Unable to connect the network ,please try again.

Please enter the right code in the image!

Congratulations!

Your message has been sent to the author.