Barclays cuts 2016 gold and silver price forecasts, but safe haven may lure investors

1860

In its latest forecast, Barclays has pegged average gold prices at $1100/oz for 2016 (compared to previous forecast of $1,150/oz), $1200/oz for 2017.

“Overall, while we expect base metals and bulks to remain under pressure we expect gold to find some support in 2016,” it was written in the research note. However with the inflow of below the expectations data since the beginning of 2016, the slump in the financial markets and the slowdown of global economy, Barclays forecast may have not taken into consideration the most current data.

Average silver prices would be at $14/oz for 2016 (compared to previous forecast of $16/oz), $15.75/oz for 2017 (compared to previous forecast of $16.75/oz).

Barclays forecast average copper price at $1.98/lb for 2016 (compared to previous forecast of $2.55/lb), $1.90/lb for 2017 (compared to previous forecast of $2.30/lb)

Average zinc price has been forecast at $0.75/lb for 2016 (compared to previous forecast of $1.04/lb), $0.85/lb for 2017 (compared to previous forecast of $1.15/lb).

Barclays put average nickel price at $4.25/lb for 2016 (compared to previous forecast of $5.00/lb), $5.00/lb for 2017 (compared to previous forecast of $5.75/lb),

Barclays has said average lead price would be at $0.80/lb for 2016, $0.90/lb for 2017.

LEAVE A REPLY