Friday, January 26, 2018

Thompson Reuters publishes fourth quarter GFMS Gold Survey where analysts see gold price reaching $1500 in 2018

On Jan. 25, Thompson Reuters published its quarterly Gold Fields Mineral Services (GFMS) gold survey from the fourth quarter of 2017.  And one of the more interesting outlooks for the new year was in analyst determinations that the gold price would reach at least $1500 in 2018.

Gold prices are starting the new year in stellar fashion and investors should see further gains throughout the year, according to analysts at GFMS Thomson Reuters. 
In its fourth quarter 2017 Gold Survey, published Thursday, the research team said that they could see prices rallying to $1,500 an ounce at some point in 2018 with gold averaging the year at $1,360 an ounce. 
“We believe that the geopolitical climate and equity markets will continue to support gold’s role as a risk hedge,” they said in its report. “Our forecast discounts three Fed rate hikes, although a potential overheating from the effect of the new tax reform could lead to more aggressive tightening, limiting gold’s upside.” 
GFMS’s outlook comes as gold prices pushed to a 1.5-year high on the back of a weaker U.S. dollar. The U.S. Dollar Index fell to its lowest level since December 2014 after U.S. Secretary Treasurer said that a weaker U.S. dollar is “good” for the U.S. economy. - Kitco


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