Citi, an active and well-established market participant in the precious metals marketplace, is out with their latest price forecast for such hard assets. From Francesca Freeman for the Dow Jones Newswires today:
Citi Monday cut its outlook on gold prices for the year ahead, but raised its view on the price prospects of the platinum group metals.
The bank cut its 2013 average gold price forecast by 4% to $1,675 a troy ounce. It raised its 2013 platinum price forecast, meanwhile, by 1.5% to $1,700/oz and its palladium outlook by 4.2% to $775/oz.
Demand is expected to outstrip supply with both platinum and palladium, with the situation more pronounced with the latter.
As for silver, Citi’s outlook remains unchanged from November 2012, when the New York City-based financial services company predicted its average price would be $31 per ounce in 2013, falling to $26.50 per ounce in 2014.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)
Freeman, Francesca. “Citi Cuts 2013 Gold Forecast; Upgrades Platinum, Palladium Outlook.” Dow Jones Newswires. 21 Jan. 2013.
(http://www.foxbusiness.com/news/2013/01/21/citi-cuts-2013-gold-forecast-upgrades-platinum-palladium-outlook/). 21 Jan. 2013.
Kollmeyer, Barbara. “Gold steady as Citi cuts its price forecast.” MarketWatch. 21 Jan. 2013. (http://www.marketwatch.com/story/gold-slightly-up-citi-cuts-its-2013-gold-forecast-2013-01-21?link=MW_latest_news). 21 Jan. 2013.
Badkar, Mamta. “Citi: Here’s What The World’s Most Important Commodities Will Do In 2013.” Business Insider. 26 Nov. 2012.
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