Euro Surprised By Issue ECB's Weidmann. The euro slumped as the circulation of rumors that the ECB's Weidmann will resign from his post as governor of the central bank of Germany. However, the euro is seen trying to reduce the attenuation after the Bundesbank denied the issue. EUR / USD is now trading 1.3291, after touching a daily low of 1.3266.
'New round Bullish Gold in 2013'
So many assumptions overshadow the price movement of gold in 2013. Although only rose by 7% last year, most of the investment firms and analysts still believe that precious metals are able to record a new high in the next few months. No exception Danske Bank and Credit Suisse, which is known as the two most eminent institutions in the affairs of fortune-telling in gold prices. Most of the gold and precious metals analysts surveyed by Bloomberg still has a bullish projections on the movement of gold this year. The results of a survey of 26 analysts produced a median forecast that prices hit a record $ 1,997.50 capable per ounce at the end of December. Monexnews summarizes projected gold price in 2013 of several financial firms world-renowned analysts.
1. Danske Bank - Copenhagen, Denmark
Christin Tuxen, analyst predicts successful companies in gold prices over the past eight consecutive quarters, the estimated range of the average level in 2013 at $ 1.720 per ounce. Then gold will weaken to around $ 1.600 in 2014.
2. Credit Suisse - London, England
Tom Kendall predict gold price ranges at $ 1.740 and $ 1.720 in 2013 and 2014. While analyst Jochen Hitzfeld, based in Munich, Germany set the level of $ 1.700 and $ 1.800 per ounce as a realistic target. It should be noted that the price of gold has increased more than six-fold since the bullish period starting in 2001. "Gold still has an important role as a means of portfolio diversification," Kendall said in its forecast. He added that the only investor speculators will reduce holdings this year, while long-term investors will not abandon the gold assets.
The main reason behind the predictions of analysts and Credit Suisse Danske referring to the central bank buying interest, which requires precious metal as a hedge against the risk of media inflation and currency devaluation. While the price forecast for 2014 lowered due to improved economic growth and threats so that risk is reduced when it was investment interest in safe-haven assets begin to recede. The financial institution UniCredit mention climate of low interest rates will keep gold's appeal.
3. Morgan Stanley - United States
This financial services company cut its prices for 2013 of $ 2.175 (estimated May 2012) to $ 1.853. Morgan Stanley no longer so bullish in setting price targets for considering the economic conditions in some countries.
4. JPMorgan Chase - United States
JPMorgan Chase & Co. to end on 'hold' for gold on the 4th of January, as he advised investors to back hunt for gold when the price fell to $ 1.550.
5. Goldman Sachs - United States
Goldman did not say how the average level of the price movements this year but the price can be optimistic again reached its peak. Meanwhile, for 2014, is estimated to be $ 1.750 level, equivalent to an increase penetrated approximately 3.9% of the current price range.
'New round Bullish Gold in 2013'
So many assumptions overshadow the price movement of gold in 2013. Although only rose by 7% last year, most of the investment firms and analysts still believe that precious metals are able to record a new high in the next few months. No exception Danske Bank and Credit Suisse, which is known as the two most eminent institutions in the affairs of fortune-telling in gold prices. Most of the gold and precious metals analysts surveyed by Bloomberg still has a bullish projections on the movement of gold this year. The results of a survey of 26 analysts produced a median forecast that prices hit a record $ 1,997.50 capable per ounce at the end of December. Monexnews summarizes projected gold price in 2013 of several financial firms world-renowned analysts.
1. Danske Bank - Copenhagen, Denmark
Christin Tuxen, analyst predicts successful companies in gold prices over the past eight consecutive quarters, the estimated range of the average level in 2013 at $ 1.720 per ounce. Then gold will weaken to around $ 1.600 in 2014.
2. Credit Suisse - London, England
Tom Kendall predict gold price ranges at $ 1.740 and $ 1.720 in 2013 and 2014. While analyst Jochen Hitzfeld, based in Munich, Germany set the level of $ 1.700 and $ 1.800 per ounce as a realistic target. It should be noted that the price of gold has increased more than six-fold since the bullish period starting in 2001. "Gold still has an important role as a means of portfolio diversification," Kendall said in its forecast. He added that the only investor speculators will reduce holdings this year, while long-term investors will not abandon the gold assets.
The main reason behind the predictions of analysts and Credit Suisse Danske referring to the central bank buying interest, which requires precious metal as a hedge against the risk of media inflation and currency devaluation. While the price forecast for 2014 lowered due to improved economic growth and threats so that risk is reduced when it was investment interest in safe-haven assets begin to recede. The financial institution UniCredit mention climate of low interest rates will keep gold's appeal.
3. Morgan Stanley - United States
This financial services company cut its prices for 2013 of $ 2.175 (estimated May 2012) to $ 1.853. Morgan Stanley no longer so bullish in setting price targets for considering the economic conditions in some countries.
4. JPMorgan Chase - United States
JPMorgan Chase & Co. to end on 'hold' for gold on the 4th of January, as he advised investors to back hunt for gold when the price fell to $ 1.550.
5. Goldman Sachs - United States
Goldman did not say how the average level of the price movements this year but the price can be optimistic again reached its peak. Meanwhile, for 2014, is estimated to be $ 1.750 level, equivalent to an increase penetrated approximately 3.9% of the current price range.
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