According to Barclays latest commodities report, released Tuesday afternoon, gold prices are expected to stay near current levels with less volatility. “We expect the gold price to stay near current levels in a Fed-tightening cycle,” Barclays analysts note. “90% all-in cost of 1230$/oz and cash cost of 1000 $/oz acts as a floor for price,” they say, adding that ETP flows are slowing in both directions, which shows waning investor interest for the metal. The analysts say they expect gold to weaken this year setting their forecast at $1,190/oz for this quarter and at $1,170/oz by year-end.
