Morgan Stanley lowers 2014 & 2015 gold price forecast
Victoria Hewitt-Marsh, News Editor
10 Mar 2014, 10:53 a.m.
Morgan Stanley has lowered their gold price forecast for 2014 and 2015 to $1,160 and $1,138 per ounce respectively.
The bank cites the Federal Reserve’s decision to scale back on its quantitative easing program known as QE as the major driver behind the downward revision. Morgan Stanley also believes the decision by Investment banks to scale back on their commodity operations will cause further downward pressure on the gold price.
In a release to the market the Bank expects physical demand in China to continue and legal demand into India remain sluggish.