Reuters: Gold Prices Will Gain Ground Next Year, Even Above $1,300

Many believe gold will again reach $1,300 an ounce next year and China now imports more crude oil than the U.S.

Gold Above $1,300/Ounce? Next Year, Poll Says

Gold is likely to recover to above $1,300 an ounce next year as a pickup in physical demand counters more potential U.S. rate increases, a Reuters poll at an industry event showed.

MetalMiner Price Benchmarking: Current and Historical Prices for the Metals You Buy

The precious metal had lost nearly 9% from July’s two-year highs to trade around $1,255 an ounce on Tuesday, hit by expectations the Federal Reserve would raise interest rates in December for the second time in a year.

China Overtakes U.S. as Top Crude Oil Importer

China imported record volumes of crude oil last month, eclipsing the U.S. as the world’s top buyer of foreign oil as Beijing’s state reserves shipped in cheap crude to fill new storage tanks.

Two-Month Trial: Metal Buying Outlook

September’s crude imports rose 18% from a year earlier to 33.06 million metric tons or 8.04 million barrels per day (bpd) on a daily basis, customs data showed.

The post Reuters: Gold Prices Will Gain Ground Next Year, Even Above $1,300 appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

from Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner » Precious Metals https://agmetalminer.com/2016/10/18/reuters-gold-prices-will-gain-ground-next-year-even-above-1300/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s