Cochilco revises 2014 gold and silver forecasts
Time:Wed, 24 Sep 2014 09:43:25 +0800
keywords :
The gold price this year is expected to average USD 1,301 per oz.
Chilean state copper commission Cochilco said that the full year's average range would be USD 1,295 to USD 1,306 per oz. The range is higher than the December 2013 forecast, in which the agency estimated a USD 1,260 to USD 1,270 per oz range.
Silver price is expected to reach USD 20.3 per oz, down from its previous forecast of USD 21 per oz.
The report noted that gold prices converged around USD 1,300 per oz in H1, a significant drop from the September 2011 high of USD 1,896.5 per oz. In June, the price of the yellow metal closed at USD 1,313 per oz.
The average price of silver in H1 was USD 20.05 per oz, closing at USD 20.87 per oz at end June, down 7% from end 2013.
Cochilco expects long term gold price (2019-23) to be USD 1,317 per oz, while silver price is expected to trade at around USD 22.3 per oz.
