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JAN 26, 2013 - Business Insider

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CITI: There Is Really Only One Thing Driving Gold Prices Right Now, And It's Going To Drive Them Lower

Citi Chief Commodities Economist Daniel Ahn and his team are "marking-to-market" their forecasts for gold prices following a substantial sell-off in the gold market over the past several months. Since peaking at a price of $1798 per ounce on October 4, gold has fallen 7.8 percent to $1658: The retrenchment in the market has Ahn and his team lowering their forecasts for gold over the next three months from $1770 to $1700 and cutting their forecasts for 6-12 months out from $1770 to $1650. They are also lowering their estimated average gold price in 2013 to $1675 from $1750. Ahn says the ... Read More

Tags: CITI: There Is Really Only One Thing Driving Gold Prices Right Now, And It's Going To Drive Them Lower,  Goldman Sachs Latest News