The subject of investing in gold evokes varied responses. Proponents of gold say that it is one of the most reliable asset classes during financial crisis and has an intrinsic value of its own. Opponents on the other hand opine that gold has little or no use, and its value is over-hyped. While there are no clear winners in the “gold debate”, it can be said that speculation in gold has always been high, and as we approach the New Year, the discussion has focused on the prospects of gold in 2014
. So what does the gold have in store for all of us? We will take a look at what experts have to say about it in the following paragraphs.
Metal analyst Joni Teves wrote in a research note that gold will not perform as well in 2014 as some people might believe it to be. In the fourth quarter of this year, the talk around gold was that it can see levels of $1,325 an ounce in 2014, but now the levels are being pegged at around $1,200 an ounce. Speculating further, the report mentions that the average price of gold might not even reach $1,300 an ounce by 2017. Teves of the opinion that on a macroeconomic level, things seemed to be pretty bright and this optimism in the economy and stock markets
might mean that there will be few takers for gold in 2014.
As far as the outlook on gold in 2014 is considered, it can be said that it is not that exciting at the moment. But as we have seen in the past, gold has this tendency of being a safe haven for investors in times of economic catastrophe. So one can never rule gold out as far investing is considered.
This article Prospects of Gold in 2014 was originally published at Daily Gains Letter Blogspot
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