Gold's Bull Market Over; Prices To Fall In Next Two Years - Natixis
By GCRU Gold News on Wednesday, October 12 2016, 23:47 - Permalink
Unprecedented investor demand that helped drive gold prices almost 30% higher this year is expected to come to a halt as the market deals with higher global interest rates in the next two years, according to one French bank.
Natixis’ precious metals analysts Bernard Dahdah, who was named the London Bullion Market Association’s top gold forecaster in 2015, and Alomgir Miah said in a report Wednesday that they see more headwinds for gold and silver in 2017 and2018.
The analysts said that they expect gold to average $1,180 an ounce next year, with prices falling to an average of $1,100 in 2018.