Market Chatter: Gold Forecasters Split On When Bull Market Will Peak

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"Danske Bank A/S and Credit Suisse Group AG, the most-accurate gold forecasters, say prices will probably peak this year while their nearest rival, UniCredit SpA, sees no end in sight to the 12-year bull market," according to a Bloomberg report.

Bloomberg said: "Gold will average US$1,720 an ounce this year and $1,600 in 2014, said Christin Tuxen of Danske Bank in Copenhagen, who came closest to predicting moves in the past eight quarters, according to data compiled by Bloomberg. Tom Kendall at Credit Suisse in London expects $1,740 and $1,720 and Jochen Hitzfeld of UniCredit in Munich predicts $1,700 and $1,800. Bullion rose more than sixfold since the bull market began in 2001.

It added: "All three forecast record average prices this year because central-bank stimulus will sustain buying as a hedge against inflation and currency devaluation. Danske and Credit Suisse predict lower prices in 2014 as economic growth curbs demand for the metal as a protector of wealth while UniCredit says record-low interest rates will maintain gold's allure."




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This article appears in: Investing , Commodities

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