According to median analyst estimates, gold prices will average $1,225 in the fourth quarter and $1,270 in the first three months of 2015.
“You’ve had a bit of safe-haven demand and a bit of inflation-hedge demand,” Georgette Boele, a precious-metals analyst at ABN Amro Group NV, said in the article. “The view doesn’t change on gold, because this is temporary. The other drivers have not changed.”
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Max Chen contributed to this article.
Full disclosure: Tom Lydon’s clients own shares of GLD.