Tags: gold | drop | prediction | Credit Suisse

Gold Seen Falling to $1,100 an Ounce in a Year by Credit Suisse

Thursday, 16 May 2013 09:05 AM

 

Gold will trade at $1,100 an ounce in a year, according to Credit Suisse Group AG.

“The need to buy gold for wealth preservation fell down and the probability of inflation on a one- to three-year horizon is significantly diminished,” Ric Deverell, head of commodities research at the bank, told reporters in London today.

Bullion may fall to $1,350 in the next couple of weeks, he said. Gold will trade below $1,000 in five years, Deverell said.

© Copyright 2015 Bloomberg News. All rights reserved.

1Like our page
2Share
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved