Tags: gold | bullion | market | metals

Gold Industry Top Brass Predict Bullion Will Stabilize in 2015

Tuesday, 11 Nov 2014 03:33 PM

Gold prices, which hit a four-year low of $1,131.85 last week, are expected to stabilize at $1,200 an ounce by October 2015, delegates to the London Bullion Market Association's annual conference forecast on Tuesday.

Silver, this year's biggest faller with a 19 percent drop so far, is also forecast to edge to $17 by October next year. Platinum prices are forecast to stand at $1,325 an ounce and palladium at $825 an ounce.

Gold has dropped around five percent this year, following a surprising 28-percent tumble in 2013 that put an end to 12 consecutive years of gains.

The market sees a stronger dollar, bolstered by the end of the Federal Reserve's monthly bond purchase program in October, confidence in the U.S. economy and expectations that interest rates will be raised in the first half of 2015, as factors that have largely been already factored in current prices.

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Gold prices, which hit a four-year low of $1,131.85 last week, are expected to stabilize at $1,200 an ounce by October 2015, delegates to the London Bullion Market Association's annual conference forecast on Tuesday.
gold, bullion, market, metals
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2014-33-11
Tuesday, 11 Nov 2014 03:33 PM
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