Gold likely to appreciate to $1,400 an ounce by end of 2017
NEW YORK (Scrap Register): Credit Suisse has reiterated its mid-April outlook calling for gold prices to appreciate to $1,400 an ounce by the fourth quarter.
The bank cited expectations for U.S. real interest rates to surprise to the downside, waning strength in the U.S. dollar, a dovish central-bank approach to future monetary policy, continued robust Chinese investment demand, an elevated probability of a disruptive geopolitical event, and positioning in gold that remains neutral and well below levels seen in 2016.
Credit Suisse issued its most recent report just ahead of the weekend and after the quarterly report from the World Gold Council on supply and demand trends in the first quarter.
As of 9:02 a.m. EDT, spot gold was trading up $2.75 to $1,230.80 an ounce.