Bank Of Baku

Gold prices could drop to $1,000

Gold prices could drop to $1,000
# 14 August 2013 13:01 (UTC +04:00)

Baku. Agshin Rafigoglu - APA-Economics. Next year, gold would have to dip below $1,000 for it to revise its plans, APA-Economics reports.

 

According to experts, this figure could drop to $840 in 2015 because a stronger U.S. economy will limit gold’s appeal.

 

Precious metals mining companies are under intense pressure to cut costs with a 20-percent slump in gold this year sending prices to a near 3-year low of about $1,180 an ounce in June.

 

Currently, an ounce of gold makes $1,322 on world market. 

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