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Gold Price Forecasts: Ross Strachan

Published by Kirke Sööt in category Financial news on 20.05.2017
Gold price (XAU-EUR)
2161,29 EUR/oz
  
- 35,53 EUR
Silver price (XAG-EUR)
27,99 EUR/oz
  
- 0,53 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.

 

Ross Strachan

Thomson Reuters GFMS, London

Gold: Range: $1,150 – $1,400

Average: $1,259

Gold prices started 2017 by making up some of the losses from late last year. However, the US dollar is likely to remain a substantial headwind to further price rises, at least in the first half of 2017. Furthermore, there are few indications that physical demand from Asia is set to pick up just yet. However, as the year progresses, there is a growing likelihood of safe-haven flows helped by either or both US and European geopolitics. In Europe, an election result, perhaps in France or the Netherlands, might be responsible, increasing the chances of a country leaving the euro, while in the United States, a more unorthodox approach from President Trump could increase such flows. Consequently, we forecast gold to average $1,259 per oz in 2017.

http://www.goldstocknews.com/

 

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