BMO Capital Markets forecast stabile gold market in the whole in 2016, with average price $1050 per ounce – comparing to $1160 per ounce in 2015. “Forecasts of gold and silver price are lowered a bit, but in fact, trend is moving sideways”, as experts of BMO assert, considering metal price risks of growth and decrease to be equal.
Among grounds for the forecast, the bank is marking a possibility of new base interest rate increase by Federal Reserve, general tendency of rollback for gold in the year of USA presidential election and stabile investment demand. «We believe that downward pressure on price of gold will decrease with weakening of US dollar in the second part of 2016 or at the beginning of 2017”, BMO say, adding that ‘safe harbors’ keep supporting gold. “This is not serious driver of gold growth, but it prevents price from falling, which is normal for gold, taking into consideration current situation of world economical growth”, as it is said in the materials of the Bank.
Analysts forecast gold price for current year in range $925-1196 per ounce.
Source: MetalTorg.Ru