Price for Gold/Silver

This upcoming year, price per unit for gold and silver is predicted to take a downfall in 2014. Large investment banks have lowered their expectations due to weak investor demand, a stronger U.S. dollar and competition in China. In 2014, the forecast for gold is down a shocking 16 percent in contrast to the average of 2013, which was $1,409 per ounce. 2014 is expected to have gold prices at $1,313 per ounce.  Credit Suisse lowered its 2013 forecast for gold from $1,580 to $1,400. Goldman Sachs followed their lead by cutting their anticipated price per ounce from $1,435 to $1,300 for the remainder of this year. By the time 2014 comes to an end, the bank predicts gold prices to be down to $1,050, which started at $1,270. For silver, Morgan Stanley’s 2013 price is now $23.39 per ounce, a 14 percent decline. For 2014, the bank expects the metal to be at approximately $21.01, a 29 percent reduction from earlier forecasts.  Credit Suisse jumped on the bandwagon and cut its predictions for silver from $28.50 per ounce to $24.20 per ounce, a 15 percent decline. Both gold and silver, was reported hitting a 3 year low on June 26, 2013.  Due to the rapid decrease in value, it is always important to invest in diamonds rather than gold or silver. Diamond investments are stable and constantly moving upward.  When it comes to making a wise investment in the jewelry industry, diamonds are the way to go.

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