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Sharps Pixley released its 2015 price outlooks for gold, silver, platinum and palladium, noting that it sees gold averaging $1,321 per ounce this year.
Sharps Pixley released its 2015 price outlooks for gold, silver, platinum and palladium, noting that it sees gold averaging $1,321 per ounce this year. Silver it places at $18.56, while platinum and palladium it believes will average $1,268 and $876, respectively.
Here’s what the firm has to say about gold:
If our outlook for gold in dollar terms is bullish, in emerging currencies it may be even more so as investors seek to insure or hedge against currency debasement. As such, we foresee good demand for the physical.
Most annoyingly for bulls in 2014, gold exhibited ‘rally fade’ despite a global economy that was as fragile as ever. Our forecast is predicated on gold becoming price inelastic (as it was in the early 2000′s) and able to sustain the momentum. I say annoyingly because arguably never before have savers potentially so needed an asset with the wealth preservation qualities that gold provides … yet the price performance these last few years has disappointed.
In short, we see gold demonstrating that it has turned a corner and investor flows return with a vengeance, aided by short covering and fresh longs in the futures markets. Perhaps most disappointingly though we are unlikely to see runaway prices beyond the $1450 level without either significant new product innovations or without the sort of black swan events in the economy that few of us would wish for.
Click here to read the full Sharps Pixley report.
