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Gold Will End Next Year At $1,400 An Ounce – Capital Economics

Executive & Research Director @ GoldCore
October 14, 2015

Gold prices are headed for a critical test according to The Week today. The Federal Reserve’s ‘wait and see’ stance suggests policymakers there are in no rush to increase rates this year. “Sentiment over interest rates has been controlling gold prices all year,” says The Week “as traders prepare for a rise that will lessen the attraction of non-yielding commodities and boost the dollar”.

Market analysts agree that a threshold is looming “in the form of the recent high in August and the 200-day rolling average gold price”.  However, some are more optimistic than others.  Mining.com point to analysts at Denmark’s Saxo Bank who “sense a change of sentiment is unfolding”, with a rise above the $1,170 August high confirming that “a floor has been established”.

Capital Economics are suggesting that gold could “hit $1,200 before the end of this year, rising to $1,400 by the end of 2016″.

Read the full article “Gold price rally heads for critical test

Daily Gold Prices

Today’s Gold Prices:   USD 1173.70, EUR 1028.52 and GBP 764.76 per ounce.
Yesterday’s Gold Prices:  USD 1154.40, EUR 1014.95 and GBP 757.16 per ounce.    
(LBMA AM)

Gold in USD- 1 Month

Gold was higher again yesterday closing at $1168, up $5.70 for the day. Silver closed marginally up at $15.90, up $0.05.  Euro gold rose to €1026 per ounce, platinum lost $7 to $986 per ounce.

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Courtesy of www.GoldCore.com

Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 


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