BNP Paribas cut its 2014 gold forecast to $1095

Chris Weston

think y'days 14.5% collapse in Indian exports would have been felt in the gold complex for sure as well.

Chris Weston

indeed, it was a big cut. I only have a headline, but I did see they expect a March taper, so I guess they are simply moving in line with that idea. Would be interesting to see its call on the USD, while also what supply side response would be given $1200 is seen a marginal cost of production

James Marlay

Did they give a catalyst for the change and what was their previous forecast? I assume the timing of tapering has firmed in their eyes.