View the article online at http://citywire.co.uk/wealth-manager/article/a650376
Gold price: a view from the globe's top forecasters
by Sarah Miloudi on Jan 14, 2013 at 10:54
It sees gold hitting a higher average over the year, of $1,790, and expects any fall in gold's price to be less pronounced.
Better off in silver?
Gains of 500% have been tipped for silver over the years ahead, with some forecasters believing will give gold a run for its money.
But Sharps' Norman said gold and silver are more likely to follow a similar path this year, given its strong run over the past 10 years, increased production and fears about the macro picture subsiding.
'We forecast a weak start to the year on US dollar firmness before good demand from industrial applicants as global IP picks up. With its recent history of price spikes, there is a danger sharp rises will be seized upon by producers as an opportunity to sell forward, effectively capping the rallies,' Norman explained.
'With primary mine production continuing to rise to new record highs, the onus is increasingly on silver bulls to prove the case,' he added.
News sponsored by:
Today's top headlines
More about this:
More from us
- Fed signals surprise end to QE3
- Silver tipped to soar 500% but can it beat bullion in 2013?
- US jobs report injects life into idle markets
On the road
on Mar 07, 2014 at 13:36