The firm said one of its 10 best trade ideas for next year is to short gold. Credit Suisse set a price target of $950 on gold through the end of 2015 and said the precious metal's recent drop below the $1,180 mark indicated the continuation of a bearish trend.
"Gold remains very expensive relative to historical norms, with carrying costs becoming more penal as U.S. interest rates begin to rise," the firm wrote. Credit Suisse added that a strong U.S. dollar would continue to weigh on gold.
Must Read: Warren Buffett's 25 Favorite Stocks
Gold futures were down 0.18% to $1,194.90 on Wednesday.
Separately, TheStreet Ratings team rates IAMGOLD CORP as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate IAMGOLD CORP (IAG) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself."