Bank of America Merrill Lynch forecasts $1,150 gold
Duncan Richardson, News Editor
10 Jan 2014, 3:14 p.m.
Bank of America Merrill Lynch has cut its 2014 gold forecast to $1,150 per ounce, and has warned that the price could drop even further. The Bank also has a negative outlook for silver with a 2014 price prediction of $18.38 per ounce. Bank strategist Michael Widmer has warned that even strong physical buying from India and China will not be enough to halt the price decline.