Gold & Silver

HSBC raises 2016, 2017 gold price forecasts

Reuters | Updated on January 17, 2018 Published on July 05, 2016

HSBC has raised its 2016, 2017 average gold price forecasts to $1,275 per ounce and $1,310 an ounce respectively. And, forecast $1,270 an ounce for 2018.

After three years on the backburner, investment demand is again setting the tone and direction for gold prices, it said.

HSBC said investment demand is driving prices and reflects the uncertain macro backdrop, dovish outlook for US interest rates, and appeal of gold in a negative rate environment. These factors will provide support, but the rally may be limited.

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Published on July 05, 2016
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