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MarketWatch reported that Barclays plc (NYSE:BCS) has reduced its Q4 gold price forecast to $1,220 per ounce. For the whole of 2014, the firm believes gold will average $1,270.
This post was originally published on Gold Investing News on September 17, 2014.
MarketWatch reported that Barclays plc (NYSE:BCS) has reduced its Q4 gold price forecast to $1,220 per ounce. For the whole of 2014, the firm believes gold will average $1,270.
In 2015, Barclays sees the price of the yellow metal averaging just $1,180.
As quoted in the market news:
Barclays bearish view on gold is linked to rising rates and the dollars strength. ‘Rising rates and a significantly stronger dollar present headwinds, which are set to overwhelm any seasonal strength in physical demand this year,’ said Barclays’ analyst Suki Cooper.
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