Gold and silver forecasts for 2014
Research has been conducted on the rate of gold and expectations in 2014, conducted an upwardly revised BMO Research gold and silver forecasts for 2014, despite the fact that the data medium listed down the expectations of current prices.
In a report to the Canadian Bank , a quarterly report on mined commodities , he preferred palladium more than platinum , despite constant of palladium unchanged and platinum rose slightly.
Description BMO palladium , iron ore , coal and met him he preferred goods and said it was ” neutral” on copper , platinum , gold and silver. The bank warned of the diamond , nickel , uranium and zinc , thermal coal and aluminum.
The bank said it looking for overall prices to remain largely a specified range until the end of the year.
Gold forecast was revised 2014 up to $ 1,275 an ounce from $ 1,181 in the past , while expectations silver has been revised up to $ 21 from $ 18 , and gold prices are still relatively volatile , but within a limited range .
The bank said , macro events continue to be the driver of the heavy weight of the direction of the price of gold , but what seems to have been a more recent events pricing combined with a faint interest in the metal, and there is little support to the upside for precious metals in the near future .
And BMO Research Foundation said it expects prices to fall gold and silver in 2014 , on the assumption that the recovery in the United States has made great strides .
He said BMO could support gold in the long term through the repercussions are unknown from years of easy money, during the past four years of printing money and increasing debt levels unprecedented , and medium to repercussions in the long term these measures can only be speculated .
BMO said it is looking for silver to gold was impaired due to industrial demand outlook is uncertain in the United States in the near term , as well as expectations for a large supply growth in 2014 and 2016.
At the same time , BMO said it is looking for palladium to continue to outweigh platinum on the near-term , in particular , noted the bank to resolve some labor issues in South Africa , which limits the possibility of uninterrupted supply of platinum , and hence the rise in the price of the metal .
Palladium is the most leveraged to stronger auto markets of the United States and China , while platinum is more closely related to the automotive markets in Europe weaker.
Said BMO seems to market palladium stay in a large deficit in supply demand in the medium term , although the company said that this is probably already taken into account the price, Bank maintained the median forecast of 2014 palladium than 700 dollars per ounce .
It is expected to decline meaningfully over the next few years the Russian destocking of inventories , which complements mine supply .
She said BMO auditing company forecast platinum 2014 only slightly to $ 1,400 an ounce from the previous $ 1,394 mainly based on the expectations of the South African rand .
Left copper expectations of $ 3.25 pounds, and potential bank said stronger – than – expected growth in mine supply , but said it can be compensated by dragging the stock was higher than expected due to stronger industrial activity in China.
BMO also said copper projects still most important commodity on the block even though the average performance of copper prices and stock for the year so far, and with the expectations of analysts consensus calls for copper prices to fall.