As gold ends its poorest period for cost declines in three decades, and crawls to its first year cost decrease since 2000, gold bugs appear to 2014 for possibility winds of change.
But it’s unclear what exactly to wait for the world’s most popular precious metal in the initial months of 2014. A lot analysts expect the gold to trade narrowly between $1,150 per ounce to $1,250 per ounce, or at the extremes, from $1,000/oz to $1,400/oz.
If prices drop beneath $1,000/oz, all bets are off the table, though few bank analysts anticipate that threshold will be breached, unless a mainly as-yet-unknown catalyst appears. But few analysts see prices rising above $1,400/oz in the near term.
Past mixed U.S. economic data failed to move bullion prices much either way, wrote HSBC Holdings PLC (LON:HSBA) analyst James Stee in a investigate note on Monday. Higher yields on 10-year Treasury bonds, a key interest rank benchmark, could achieve gold further and expose it to lower prices, he said.