The Economic Times reported that Deutsche Bank AG (NYSE:DB) has reduced its 2014 nickel forecast to $15,000 per tonne, an 11-percent decrease from its previous estimate. The firm also lowered its 2015 forecast by 3.5 percent, to $15,250.
As quoted in the market news:
[Deutsche Bank] also downgraded its 2014 gold price forecast by 14.7 per cent to $1,141.0 per ounce, and for 2015 by 17.0 per cent to $1,100 per ounce.
‘We expect gold prices will continue to adjust lower in response to Fed tapering, a stronger US dollar, rising US real interest rates and further declines in US equity risk premium,’ it said.
‘However, an improvement in global car sales should support industrial demand for PGMs (Platinum group metals).’