HSBC Remains ‘Cautiously Bullish’ On Gold, Calling For $1,205 Year-End Price – Jim Steel

Gold prices are trading steady to slightly higher Wednesday, and HSBC’s senior analyst says he remains ‘moderately optimistic.’ At the London Bullion Market Association (LBMA) conference in Vienna, he told Kitco News that HSBC’s average price forecast for the yellow metal stands at $1,160 an ounce, with a year-end forecast of around $1,205. ‘Next year, our average is $1,205, which takes us to a year end of around $1,255,’ he added. Looking at platinum, Steel said he has a positive outlook for the metal’s price based on tighter supply concerns going forward. ‘I’m not sure if [sentiment] is universally so bearish [for the metals],’ he said. ‘I think the market is under this stabilization period so it would not be unusual to get a lot of diverse opinion.’ On silver, he said that although demand picks up when prices dip, he sees limited upside for the metal’s price. Kitco News, October 21, 2015.

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: http://www.kitco.com/newsletter

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com — Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews — Kitco News on Facebook: http://facebook.com/kitconews — Kitco News on Google+: http://google.com/+kitco — Kitco News on StockTwits: http://stocktwits.com/kitconews

Categorised as: interesting

Posted by: Deas1970

Comments are disabled on this post

Comments are closed.

Disclaimers – All content here is NOT presented as investment advice; LessThunk is NOT endorsing any website or specific investment by displaying external links.

We may or may-not (coincidentally) hold some quantity of stock or other investment related to any given post, no endorsement is implied in any sense.