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Gold Price Forecasts: Thorsten Proettel

Published by Kirke Sööt in category Financial news on 17.05.2017
Gold price (XAU-EUR)
1921,75 EUR/oz
  
+ 29,90 EUR
Silver price (XAG-EUR)
21,34 EUR/oz
  
+ 0,35 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.

 

Thorsten Proettel

LBBW, Stuttgart

Gold: Range: $1,170 – $1,370

Average: $1,270

The age of ultra-low interest rates seems to have ceased, at least in the United States. The US Fed will probably announce three rate hikes in 2017, which implies considerable headwind for precious metals in the coming months. Nevertheless, gold has some potential as consumer prices presumably will climb faster, leaving the real yields of US dollar deposits and bonds at a very low respectively negative level. For that reason, gold will remain an attractive investment and ETCs might buy back what they sold in late 2016. Furthermore, interest rates will stay low or negative outside the US and especially in the eurozone. In combination with the risk of setbacks in the bond and stock markets, as well with the potential political risks due to elections in Europe, the gold price should increase.

 

http://www.goldstocknews.com/

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