HSBC Remains ‘Cautiously Bullish’ On Gold, Calling For $1,205 Year-End Price - Jim Steel

Gold prices are trading steady to slightly higher Wednesday, and HSBC’s senior analyst says he remains ‘moderately optimistic.’ At the London Bullion Market Association (LBMA) conference in Vienna, he told Kitco News that HSBC’s average price forecast for the yellow metal stands at $1,160 an ounce, with a year-end forecast of around $1,205. ‘Next year, our average is $1,205, which takes us to a year end of around $1,255,’ he added. Looking at platinum, Steel said he has a positive outlook for the metal’s price based on tighter supply concerns going forward. ‘I’m not sure if [sentiment] is universally so bearish [for the metals],’ he said. 'I think the market is under this stabilization period so it would not be unusual to get a lot of diverse opinion.’ On silver, he said that although demand picks up when prices dip, he sees limited upside for the metal’s price. Kitco News, October 21, 2015. (show less)

Gold prices are trading steady to slightly higher Wednesday, and HSBC’s senior analyst says he remains ‘moderately optimistic.’ At the London Bullion Market Association (LBMA) conference in Vienna, he told Kitco News that HSBC’s average price forecast for the yellow metal stands at $1,160 an ounce, with a year-end forecast of around $1,205. ‘Next year, our average is $1,205, which takes us to a year end of around $1,255,’ he added. Looking at platinum, Steel said he ... (read more)

Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.