Credit Suisse looks for gold to “perform well” in 2020, although the Swiss bank doesn’t look for quarterly average prices to stray far from current levels.
Among mining stocks, the bank looks for the best performers to be companies that can generate free cash flow and return capital to shareholders.
In an outlook report released late Wednesday, analysts said they look for the precious metal to average around $1,540 an ounce this year, peaking at $1,560 in the first quarter and then gradually easing to $1,525 by year-end. As of 10:38 a.m. EST, spot metal was at $1,549.60 an ounce.
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