The bank lowered its 2015 average gold price to $1,160 per ounce and $1,205 for 2016 from $1,234 and $1,275 per ounce earlier, respectively. However, it kept its long term price forecasts of $1,325 per ounce unchanged.
"In the short term we would not be surprise ..
surprised to see gold lower. However, we are expecting a bounce by year end to $1,205 per ounce and are then expecting the price to travel largely sideways next year hitting $1,255 per ounce by year-end," HSBC said in a note.
Gold lost ground on Monday, moving closer to last week's 5-1/2 year lows below $1,100 per ounce, with expectations for a near-term U.S. interest rate hike seen keeping momentum firmly with the bears.
Sumber : www.ewfpro.com
