Analysts rush to cut their forecasts on gold prices

多伦多老王

Scotiabank cut its price target on gold to US$1,650 for 2013 as a result, down from its earlier target of US$1,800.

HSBC, meanwhile, reduced its target this year to US$1,700 an ounce, from US.$1,760.

The lowest price target for gold was made by analysts at Barclays, who slashed their forecast to US$1,646 from $1,778.