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Gold will end next year at $1,400 an ounce - Capital Economics

Gold will end next year at $1,400 an ounce - Capital Economics

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 more on the GoldCore.com blog

 

DAILY 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)

Read more on the GoldCore.com blog

 

IMPORTANT NEWS

Asian shares extend losses after China prices cool – Reuters
Gold rallies for 4th day on hopes of delay in Fed rate hike – Reuters
Gold extends gains to a 3rd session in a row – MarketWatch
Gold is back in green after rough ride in Europe – fxstreet.com
Gold recovers losses on pessimism over Fed rate hike – Reuters

IMPORTANT ANALYSIS

Deutsche Bank Economist: The Fed Is in Danger of Making a Mistake of Historical Proportions – Bloomberg
Black swan risk rises to highest level ever – CNBC
Threat of Brexit is now very real – CNBC
Yuan devalued again taking gold across $1,170 an ounce mark – GoldSeek.com
Japan’s lesson in “people’s QE” for Jeremy Corbyn – MoneyWeek

Read more News & Commentary on GoldCore.com

 

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Currency Wars: Bye, Bye Petrodollar - Buy, Buy Gold

Essential Guide To Storing Gold In Singapore

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