Deutsche Bank Lowers 2013 Gold Price Projection, Reports Gold Price

Analysts cite stronger dollar, rising real interest rates in note to clients, reports America’s gold dealer, Gold Price.

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Deutsche Bank on Tuesday reduced its 2013 gold price projection and the bank’s analysts said that returns from the yellow metal could be on track to record their worst annual performance since 2000, the year before gold’s bull market began.

New York, NY (PRWEB) April 10, 2013

Deutsche Bank on Tuesday reduced its 2013 gold price projection and the bank’s analysts said that returns from the yellow metal could be on track to record their worst annual performance since 2000, the year before gold’s bull market began.

According to the Economic Times, Deutsche analysts wrote in a statement to clients that the forces which have pushed gold higher since 2001 “have all moved into reverse since the end of last year." Those “forces" include a weakening U.S. dollar, falling real interest rates and rising U.S. equity risk premiums.

Deutsche Bank’s new gold price forecast is 12 percent lower than the previous estimate. The bank now sees gold averaging $1,637 this year. Deutsche also lowered its silver price estimate to $31 an ounce, which is a decrease of 16.5 percent from the previously released projection. Overall, the bank sees platinum group metals outperforming the field due to low mining output and high demand from automakers.

Other banks have altered their gold price predictions in recent weeks, as employment reports and Federal Reserve announcements have given analysts new data to examine. A few banks have lowered gold price estimates but a large number of institutions have publicly stated that, under current market conditions, a U.S. economic recovery is not possible and many household investors seem to agree that the Fed is simply digging a deeper hold for itself.

Gold Price (GoldPrice.net) is a leading precious metals advisor since 1992 with headquarters in New York, California, Texas, Utah, New Mexico and Puerto Rico. Gold Price is also a direct gold and silver dealer, specializing in purchasing, selling and trading physical gold and silver such as modern bullion bars/coins and certified rare coins. They offer investors a free award-winning gold starter’s kit by visiting http://www.GoldPrice.net or calling 1-800-767-1423.


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