Gold May Regain Some Shine in 2015
12/26/2014 7:00 am EST
OANDA senior currency strategist, Stuart McPhee, shares his forecast for the yellow metal in 2015, which may not seem that strange considering that that shackles that restrained the world’s two biggest consumers for gold have now been removed.
Resurgence in gold demand from China and India, the world’s biggest consumers, is set to restore some shine to the yellow metal in 2015 after a lackluster year.
“Physical gold demand in China and India were held back in 2014 amid high stocks and import controls, respectively,” said Victor Thianpiriya, commodity strategist at ANZ. “Both these shackles have been removed, putting demand on a solid footing as we head into 2015.”
In China, physical gold demand will return because stocks are depleting, said Thianpiriya, who sees the precious metal ending 2015 at $1,280 an ounce, up from $1,200 currently.
By Stuart McPhee,Senior Currency Strategist, OANDA