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Gold Price Forecasts: Eddie Nagao

Published by Kirke Sööt in category Financial news on 14.05.2017
Gold price (XAU-EUR)
2219,40 EUR/oz
+ 16,24 EUR
Silver price (XAG-EUR)
26,92 EUR/oz
+ 0,12 EUR

The London Bullion Market Association (LBMA) asked 23 Gold analysts from around the world for their predictions on the average, high and low price range for the year ahead for Gold. Analysts who contributed to the Survey were invited to identify the top five drivers likely to influence the gold price in 2017. The top two drivers were the US dollar and US real interest rates, followed by demand in China and India, globaal political events and President Trump’s fiscal and International policies. Gold Stock News presents what the Analysts forecast for Gold in 2017.

Eddie Nagao

Sumitomo Corporation, Tokyo

Gold: Range: $1,050 – $1,380

Average: $1,201

A stronger US dollar driven by new the US government will give downward pressure to gold through the first several months of this year. Foreign currency restrictions in China and the possible change of GST regime in India are also negative for the yellow metal. Having said that, the current trend will not last so long and the focus on the market will shift from economic issues to political ones. Major elections in Europe and geopolitical tensions will bring back interest in gold as safe asset. Financial deterioration in the US may then weigh on the dollar towards the year end. If there is any ‘black swan’, it might be a policy change in FED gold reserve management?

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