Credit Suisse: Gold could plummet to $1,000 by the end of 2014
Adam Pike, News Editor
30 Jan 2014, 12:17 p.m.
After gold’s positive start to the year, Credit Suisse is warning that gold will face considerable headwinds in 2014, with bank analysts forecasting gold could fall to $1,000 per ounce.
The bank believes economic recovery in North America and Europe has reduced investor appetite for gold’s status as the “the ultimate safe haven.” The bank also suggests rising interest rates will make gold less attractive when compared to interest bearing assets.