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Gold Analysis

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Price Forecast 2013
Predictions and Estimates from Multiple Analysts
The Gold price forecast for the year 2013 has been covered by multiple analysts. Here is their consensus: While the price of Gold has a gamut of forecast ranges for 2013, most experts remain bullish on the yellow metal for the year, though some have scaled back their estimates slightly over the past few months. A compilation of their predictions are listed below.

Bank of America Merrill Lynch
In a December 2012 report, Bank of America Merrill Lynch stated that Gold would average $2,000 in 2013, with the metal climbing to $2,400 in 2014. “Large-scale policy easing by the U.S. Federal Reserve and European Central Bank positions Gold as a useful hedge against global macro and inflation risks taking the commodity to $2000/ oz levels”, said the bank. The bank added that, “We have a sixmonth [Gold price] target of $2000 an ounce, but see scope as well for prices to rise to $2400 an ounce by the end of 2014. These targets reflect our view that the Fed will maintain mortgage purchases until the end of 2014 and will move to buy Treasuries following the end of Operation Twist in December 2012.”

BNP Paribas
BNP Paribas expects Gold to average $1,865 an ounce for the year. “Market sentiment towards Gold has been much more uncertain in 2012 than was the case in previous years. Yet, we expect Gold to achieve a new record high in 2013 due to further monetary easing, less tail risk related to a breakup of the euro zone and ongoing support from physical demand,” said BNP Paribas analyst Anne-Laure Tremblay in December.

UBS
Also in December, UBS maintained its 2013 price forecast for the yellow metal, stating that Gold would average $1,900 for the year. According to analysts at UBS, “The chief driver of the Gold price is partly the short term uncertainty around US fiscal policy, but also the view that…...

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