Plenty of stuff has happened in recent months on the commodities market. The oil price went through a big down move and, as a consequence, many oil companies are under pressure. Precious metals were not exactly having a party either, however.
A report from credit Suisse that recently came out is very clear about the investment bank's stance on precious metals; the Credit Suisse's analysts are clearly bearish when it comes to gold and they expect that more trouble is on the way for gold next year.
In this report, Credit Suisse described their expectations with regards to 2015. They also included their 10 best ideas to make next year a very profitable one. One of those 10 trading tips, however, is shorting gold. A strange suggestion, but Credit Suisse has its reasons.
Credit Suisse Expects More Trouble For The Gold Price
Credit Suisse expects that the dollar will also perform strongly over the coming months and the consequences will be that gold will have a tough time keeping its head above water. The analysts from the Swiss investment bank are also pointing to the gold chart as a reason.
Recently we dipped below the very important support line of 1180 USD and that indicates that we could be looking at lower prices over the coming months. According to Credit Suisse the gold price will do badly, despite its revival this week. We strongly believe otherwise!
