Gold News

Gold Price "Could Fall this Year for First Time Since 2001"

THE AVERAGE Dollar gold price this year may be lower than that of the previous year for the first time since 2001, according to a leading precious metals analyst.

Jeffrey Christian, managing director of precious metals consultancy CPM Group in New York, says gold may average $1565 an ounce over the course of 2013, compared to $1668.75 last year.

"The global economy is likely to muddle along," says a statement from CPM, which launched its 'Gold Yearbook 2013' this week, adding that "present [positive] sentiment has reduced the urgency [felt by investors to buy gold]."

Bank of America Merrill Lynch meantime trimmed its 2013 gold price forecast this week to $1670 an ounce, down from the $1680 to which it was cut only weeks earlier. A number of other major banks have also cut their gold price forecasts since the start of the year.

Get the safest gold and silver at the lowest price possible on BullionVault...

See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals