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6 Jan 2014
Flash: Gold 2014 looks positive - JP Morgan
FXstreet.com (Barcelona) - JP Morgan strategists are also more positive on gold for 2014.
Key Quotes
“We expect that the trade policy blocking Indian gold imports will weaken somewhat and we also anticipate that outflows from gold ETFs will stabilize in the coming year, and begin to rise in 2H2014.”
“A slower pace of gold mine growth in 2014 and 2015 is likely as lower prices feed into project delays and lower capex.”
“We also still believe that central banks will be net buyers of gold in 2014 and 2015. All this should see prices stabilize and move modestly higher to round $1285/oz by the end of the year.”
Key Quotes
“We expect that the trade policy blocking Indian gold imports will weaken somewhat and we also anticipate that outflows from gold ETFs will stabilize in the coming year, and begin to rise in 2H2014.”
“A slower pace of gold mine growth in 2014 and 2015 is likely as lower prices feed into project delays and lower capex.”
“We also still believe that central banks will be net buyers of gold in 2014 and 2015. All this should see prices stabilize and move modestly higher to round $1285/oz by the end of the year.”