HSBC cuts 2013 gold price outlook

Last Updated: Thu, Jan 03, 2013 16:30 hrs
An employee places a gold Combibar into a press machine at a plant of gold refiner and bar manufacturer Valcambi SA in the southern Swiss town of Balerna

REUTERS - Major bullion bank HSBC cut its 2013 average gold price forecast to $1,760 an ounce from $1,850.

It kept its 2014 gold forecast at $1,775 an ounce and introduced a 2015 forecast of $1,675 an ounce.

The bank left its 2013 and 2014 silver, platinum and palladium forecasts unchanged.

(Reporting by NR Sethuraman in Bangalore; editing by John Wallace)

More from Sify: