-
Gold and silver forecasts revised higher, but gains will be limited - StoneX’s Rhona O’Connell
The dog days of summer continue to take their toll on gold, as prices remain above $3,300 an ounce but struggle to attract new momentum. Although gold is holding its ground, one market analyst warns investors that its upside potential is limited. On Monday, Rhona O’Connell, Head of Market Analysis for EMEA & Asia at StoneX, raised her annual average gold price forecast modestly to $3,115 an ounce, up 1% from her previous estimate of $3,078. O’Connell noted that gold prices have moved within only a 2% range over the past week and just 8% over the past three months. Through the third quarter, O’Connell ... (full story)