11:51 AM
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ET reported that BNP ParibasBSE 0.00 % lowered its 2013 price
forecast for gold to USD 1,790 per ounce from USD 1,865 while retaining
their positive outlook on the yellow metal.
The bank said that while investor fatigue may start to appear in gold we continue to expect the metal to rebound from its current level and go on to retest USD 1,800 per ounce. One possible reason for gold's underperformance may be the rebound in risk appetite that was seen since the end of 2012.
The bank also cut its forecast for silver prices in 2013, saying interest in both gold and silver has been limited in the past few months. The bank raised its 2013 price outlook for platinum to USD 1,740 per ounce from USD 1,705 and for palladium to USD 800 per ounce from USD 780 citing supportive supply side issues.
As a result of our downward revision to gold we now expect gold's premium over platinum to decline sharply in 2013 relative to its level in 2012. It still does not expect platinum to remain above gold for significant periods of time this year.
Source- Economic Times
The bank said that while investor fatigue may start to appear in gold we continue to expect the metal to rebound from its current level and go on to retest USD 1,800 per ounce. One possible reason for gold's underperformance may be the rebound in risk appetite that was seen since the end of 2012.
The bank also cut its forecast for silver prices in 2013, saying interest in both gold and silver has been limited in the past few months. The bank raised its 2013 price outlook for platinum to USD 1,740 per ounce from USD 1,705 and for palladium to USD 800 per ounce from USD 780 citing supportive supply side issues.
As a result of our downward revision to gold we now expect gold's premium over platinum to decline sharply in 2013 relative to its level in 2012. It still does not expect platinum to remain above gold for significant periods of time this year.
Source- Economic Times
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