Morgan Stanley remains bearish on gold
Duncan Richardson, News Editor
22 Jan 2014, 8:15 a.m.
Morgan Stanley has reduced its 2014 gold forecast by 12% to $1,160 per ounce. Bank analyst Peter Richardson believes gold will remain in a downward trend as the global economy continues to recover increasing the probability of interest rates rising. The forecast follows yesterday’s release of the London Bullion Market Survey of traders who are collectively forecasting an average price off $1,219 per ounce in 2014.