Natixis Forecasts Lower Gold, Silver Prices for 2015 and 2016

Mineweb reported that according to Natixis Commodities Research, gold should average $1,170 per ounce in 2015 and $1,180 in 2016. Meanwhile, it sees silver averaging $15.80 per ounce in 2015 and $16.20 in 2016.

As quoted in the market news:

‘For physically backed gold ETPs, we expect that current gradual outflows will continue during 2015,’ advised precious metals analyst Bernard Dahdah and head of commodities research, Nic Brown. ‘We do not expect sharp outflows as we believe that most institutional investors already exited their positions in 2013.’

As central bank purchases were negligible in 2014, Natixis expects that central banks will continue to have ‘a somewhat neutral impact on the market next year. We do not expect a return of large purchases such as those during the financial crisis, most of the central banks that sought diversification in gold have already reached their target holdings.’

Click here to read the full Mineweb report.