Saturday 25 February 2017

Gold will keep falling to below $1,500 an ounce

COMMODITIES

Gold has lost 11pc of its value so far this month, fuelling fears it will enter a bear market
Gold has lost 11pc of its value so far this month, fuelling fears it will enter a bear market

GOLD prices will fall below $1,500 (e1,150) an ounce over the next three months and are unlikely to re-test September's all-time highs until later in 2012 at the earliest, according to a Reuters poll of 20 hedge-fund managers, economists and traders.

The bleak forecast, coming after gold lost 11pc of its value so far this month, is likely to fuel fears that bullion is close to ending its more than decade-long bull run and entering a bear market.

Almost half of respondents predicted bullion would fall to $1,450 an ounce in the first quarter next year, with three seeing prices as low as $1,400 an ounce.

Irish Independent

Read More

Promoted articles

Editors Choice

Also in Business