The bank lowered its forecast for three-, six-- and 12-month Comex gold prices to $1,825, $1,805 and $1,800 an ounce, respectively, from $1,840, $1,940 and $1,940 an ounce.
Gold mining stocks were mostly lower Wednesday. Shares of
(EGO - Get Report) were falling 3.7%, and shares of
(KGC - Get Report) were off 2.6%.
Among volume leaders,
(ABX) was lowering 1.6%, as
(GFI - Get Report) was down 1.9%.
SPDR Gold Trust
(GLD) was decreasing 0.24%, while
iShares Gold Trust
(IAU) was slipping 0.25%.
-- Written by Joe Deaux in New York.
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