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Gold Price Forecasts: Carsten Fritsch

Published by Kirke Sööt in category Financial news on 07.05.2017
Gold price (XAU-EUR)
2057,65 EUR/oz
  
+ 33,08 EUR
Silver price (XAG-EUR)
23,03 EUR/oz
  
+ 0,32 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.

Carsten Fritsch

Commerzbank AG, Frankfurt

Gold: Range: $1,050 – $1,350

Average: $1,125

The gold price is likely to rise as foreign exchange markets stabilise during the course of the year, and should reach $1,300 per troy ounce by the end of 2017. Real interest rates that are still very low, and even negative in some cases, coupled with the ultra-expansionary monetary policy pursued by most Western central banks and rising inflation, point to more robust investment demand for gold again, though it is hardly likely to achieve the level it did in the first half of 2016. Key elections in Europe and the commencement of Brexit negotiations could spark a renewed upsurge in risk aversion in the markets at any time. Growing protectionism and the fact that a trade war between the Trump administration and China cannot be ruled out could give rise to new turmoil in the financial markets and a pricing out of Fed rate hikes.

http://www.goldstocknews.com/

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