Via research notes from:
- Goldman Sachs are predicting a significant decline of at least 15% this year
- J.P. Morgan have lowered their forecasts by 10% to $1,263 an ounce for 2014, and by 12%to $1,275 for 2015
- Morgan Stanley expects gold to extend losses this year but bounce back, with the price to average $ 1,313 an ounce
Take care with forecasts like these. The gold market, like other markets, responds to new information as it comes in, and it’s a brave trader indeed who isn’t cognizant of, or chooses to ignore, the impact of new information upon his view or prediction.
I’m not saying that predictions aren’t useful, in a year we can look back at them and get a good laugh. That’s gotta be worth something, right?
