Barclays Revises Up 2014 Gold Forecast; Sees Gains For PGMs
Barclays has revised its 2014 gold forecast higher although analysts say they still look for the metal to fall back some from current levels.Overnight, via FinViz:
However, the bank expects platinum group metals to rise.
“We have revised our gold price forecast for 2014 up to $1250/oz from $1205/oz, after taking into account gold’s year-to-date performance,” Barclays said in a report Wednesday. “That said, we have not changed our overall view and still believe that its next move will be lower.”
“Palladium has similarly outperformed so far this year, hitting several year highs, due to possible supply concerns. However, we still expect market fundamentals to push palladium even higher by year-end,” the analysts added.
Other average price forecasts for 2014 include silver, $19 an ounce; platinum, $1,539; and palladium, $768. The latter two are seen gaining momentum as the year wears on, with Barclays listing fourth-quarter forecasts of $1,610 for platinum and $810 for palladium....MORE