Goldman Analysts Expect Gold to Hit New Lows in 2014
Goldman Analysts Expect Gold to Hit New Lows in 2014 (CNBC)
Even without the support of the Fed’s full $85 billion a month in bond-purchasing stimulus fueling the economy, analysts at Goldman Sachs still expect the United States’ economic recovery to march along in 2014. As it does, they’re also saying that the price of gold will touch new lows next year. But don’t expect those lows to catch on this year, “… our U.S. economists’ expectations for a ‘dovish’ taper and gold’s recent decline will likely limit the downside to gold prices…,” according to Goldman’s commodity analysts Damien Courvalin and Jeffrey Currie. Gold bugs take heart through year’s end, but may want to turn over a new gilded leaf in January.