Earlier this week, The Financialist published an infographic that states that according to Credit Suisse Group AG (NYSE:CS) analysts, gold may fall as low as $1,000 per ounce in 2014.
As quoted in the market news:
There are a number of reasons for the bearish forecast. The main one is that the economic recoveries underway in the U.S. and Europe have reduced investors’ hankering for ‘the ultimate safe haven’ investment. What’s more, if continuing improvement in the U.S. economy prompts investors to conclude that the Federal Reserve will raise benchmark rates sooner than they’d originally expected, real rates are likely to start pushing higher in anticipation, making gold even less attractive when compared to interest-bearing assets.