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posted: 12/6/2012 7:20 AM

Gold predicted to decline in 2013

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  • A stack of twenty one once ounce gold coins is displayed during an auction in Cedar Falls, Iowa, Wednesday.

      A stack of twenty one once ounce gold coins is displayed during an auction in Cedar Falls, Iowa, Wednesday.
    Bloomberg News

 
Bloomberg News

BNP Paribas SA lowered its 2013 gold price forecast to $1,865 an ounce from $1,900 an ounce.

Prices will average $1,780 an ounce in 2014, for the first annual decline in 14 years, Anne-Laure Tremblay, an analyst at the bank, said in an e-mailed report today.

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"The fundamentals of the precious metal will turn progressively more negative as the market starts to anticipate a withdrawal of monetary easing measures in line with improving economic growth," she said.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2bloomberg.net

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