Barclays sees gold struggling in 2014
"Slower-than-expected tapering, weaker equity markets and a softer dollar could help to revive gold in the short term," the bank said.<br /><br />
Barclays sees the price of gold at $1,310 per ounce in 2014, saying the yellow metal may not rise further unless interest rates remain low for some time and demand from China increases.
"Slower-than-expected tapering, weaker equity markets and a softer dollar could help to revive gold in the short term," the bank said.
"But a more structural shift in market dynamics, such as signs of inflation, delayed interest rate hikes or greater-than-expected demand from China, and from China, and from the official sector in particular, would be required to turn the tide for gold."
Rising demand for coins and small bars may support the gold price this year, the bank said.
More from EconomyBarclays said it had a gold price forecast of $1,425 per ounce in 2013, compared with the actual price of $1,412.
Reuters
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