Goldman raises estimates of gold prices by weakness of the dollar
Goldman Sachs increased its estimates of metal prices for the next few months underthe argument of stronger hedge positions and recent weakness in the dollar.
He influential Bank said that reviewed their forecasts of prices of the metal preciousto three, six and 12 months, climbing them respectively to 1,200, 1,180 and 1,150 dollars the ounce, from a projection earlier of 1,100, 1,050 and 1,000 dollars the ounce.
The price rose above 1,200 dollars an ounce in early February first from mid–2015, to the weakness of the dollar in anticipation of possible new increases in United States interest rates. Gold has remained above 1,250 dollars an ounce during mostof the last three weeks.
With all, Goldman warned that not there is too much space for more increases in the price of the metal.
“Looking forward, we see a limited rise in the appreciation of metal given the limitedspace that the Fed surprised on the downside, limited space so the dollar to depreciate and the limited space for China impulse a strength (of the market) (emerging) currency contributing to a weak dollar,” the Bank said.
It index dollar, that measured to the currency American facing a basket of coins relevant, climbed the Tuesday to almost a maximum of two weeks, after rebound a 2.5percent from a minimum of 16 months reached the week prior.
Quotation gold in dollars USD
05-08-2016 gold market
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Gold the metal price lower by 1.63% $1.339,10
On Friday, at 19:33 (HCEV), metal has operated at 1.339,10 dollars, losing $22.15, a 1.63% compared with 1.361,25 at the close on Thursday in New York.
The price of metal has operated with an intraday high of 1.364,73 dollars and a minimum intraday of 1.337,13 dollars.
Profitability of gold
The metal goes up a + 27,46% in 2016.
Return to 1 year = + 24,76%.
Profitability to 3 years = + 5.05%.
Profitability to 5 years =–16,42%.