TD lowers 2013/14 gold outlook

TD Securities has lowered its outlook on gold prices for 2013 and 2014, citing the impending end of the Federal Reserve's quantitative easing program.

TD Securities has lowered its outlook on gold prices for 2013 and 2014, citing the impending end of the Federal Reserve's quantitative easing program.

Analysts at the bank now expect gold prices to average at $US1,380 a troy ounce in 2013, down 7% from a previous forecast of $US1,480, according to a report.

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