The Traderszone Network

Published in TZ Latest News 7 May, 2014 by The TZ Newswire Staff

Gold likely to reach four-year low in 2014 – consultancy

Gold prices have probably peaked this year and could sink to their lowest since 2010 at $1,100 an ounce as the U.S. economic recovery gathers pace, consultancy Metals Focus said on Wednesday. But a replay of last year’s 28 percent plunge, triggered by the U.S. Federal Reserve’s tapering of extraordinary stimulus measures, is not on the cards. “In the short term, the U.S. recovery regaining momentum (thanks to improving weather conditions) and the eventual de-escalation in Ukraine are likely catalysts for lower prices,” it said in its Gold and Silver Mining Focus 2014.

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