BNP Paribas chops Gold Price Forecast for 2012, 2013 but Retains Positive Price Outlook

On December 21, 2011

In light of recent weakness in the price of gold, BNP Paribas has scaled back its gold price forecast for 2012 and 2013.

BNP’s new targets for gold prices are: $1,775 per ounce in 2012 and $2,150 per ounce in 2013 on an average price basis. Its previous gold price views for 2012 and 2013 were $2,025 and $2,280, respectively.

Despite the minor adjustment in price expectations, BNP Paribas remains constructive on future gold prices and reiterated its view that gold will see new highs in the next one-to-two years. 

 

 

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