BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to: Latest news headlines Analytical topics and features Commodities videos, podcast & blogs Sample market prices & data Special reports Subscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber (https://pmc.platts.com), Please navigate to Platts Market Center to reset your password.

In this list
Metals

HSBC 'cautiously optimistic' of gold price outlook in 2015

Agriculture | Energy | Coal | Electric Power | Natural Gas | LNG | Oil | Metals | Petrochemicals | Shipping

IMO 2020

Metals | Non-Ferrous | Steel

Platts Market Data - Metals

Commodities | Electric Power | Metals

Battery Metals Conference, Inaugural

Metals

Indian JSW Steel-Aion's plan to revive Monnet Ispat wins court approval

HSBC 'cautiously optimistic' of gold price outlook in 2015

London — HSBC is "cautiously optimistic" of the gold price outlook for 2015, predicting a trading range of $1,120/oz-$1,305/oz with an average price of $1,234/oz, the bank said late Tuesday, March 24.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

"The possibility that deflationary pressures could bring on negative rates in some economies helps reaffirm our cautiously optimistic view on gold," head analyst James Steel said.

However, in Steel's view gold prices are not "entirely hostage" to monetary developments.

"The recent price slump below $1,150/oz may be encouraging greater demand from price sensitive emerging market buyers, notably, but not exclusively, in India and China," Steel said.


This has not yet been reflected by sources on the ground in India.

Platts Gold Premium 995 India was assessed at $1.25/oz Tuesday, down $0.25/oz on the day.

Physical deals were reported in Ahmedabad, Mumbai and Delhi, in a range of $0-1.75/oz.

"Low prices are also discouraging recycled scrap supplies, the second largest source of new supply to the market after mining," said Steel, looking for a price positive factor.

"The likelihood that the dollar rally may be near ending as suggested by HSBC's currency research team is another possible reason supporting modestly higher gold prices," the analyst said.

Gold hit a year-to-date intraday spot high of $1,307.98/oz January 22.

The LBMA Gold Price settled Tuesday afternoon at $1,191.50/oz.

--Ben Kilbey, ben.kilbey@platts.com
--Edited by Jonathan Fox, jonathan.fox@platts.com