PRZOOM - /newswire/ -
Brussels, Belgium, 2016/08/18 - RDH Global have revised their price predictions for several markets for the remainder of 2016, due to the change in many fundamentals that have a direct impact on pricing - RDHGlobal.com.
[TYPO FOUND BY SYSTEM] RDH Global Revise their Forcast for Remainder of Year [SUGGESTED HEADLINE: RDH Global Revise their Forecast for Remainder of Year]
“With the continued uncertainty in many markets and volatility in currencies, we have increased our forecast for gold by $70 and now expect the metal to reach at least $1,450 an ounce by year end,” said Theo Vermeulen of RDH Global, Belgium.
“Furthermore, with the U.S. elections due to be completed in the later part of the year, we anticipate there being a period of uncertainty directly after their conclusion. With all previous elections, this has always been a time of uncertainty, which will impact on the U.S. Dollar even further, resulting in the more astute client seeking an advantage in these markets,” Vermeulen added.
RDH Global advised clients that as a result of this, the energy markets, particularly crude oil, will suffer further losses to those already seen over the past 12 months.
RDH Global now envisages oil remaining at $40 or below for at least another 12 months as OPEC have signaled that they have no immediate plans to cut their production levels, despite stock-piles being at their highest for nearly 8 years.
RDH Global (rdhglobal.com) expect the equity markets to remain unsettled until the second half of 2017, while the president establishes his or her own economic plan with the Federal Reserve.