United States gold production dropped slightly in March of this year, while U.S. silver production was up 4% from March 2013, the U.S. Geological Survey reported. First-quarter 2014 gold production from U.S. mines was 53,800 kg (1,729,710 troy ounces), a “slight decrease compared with the first quarter of 2013,” said the USGS.
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Meanwhile, some analysts are expecting gold prices to push higher through the second half of the year, building on its recent momentum.
With the second half of 2014 starting Tuesday, Kitco News queried readers and analysts this week about their year-end price forecast. Of the 375 readers who responded, 51% or 193 participants saw gold ending the year in a range between $1,400 and $1,500 an ounce. Some people were even more bullish with 32% or 121 respondents expecting gold to hit $2,000 a ounce or higher; on the neutral side only 11% or 40 people saw gold maintain its current range between $1,200 and $1,300 and only 6% or 21 people were bearish on the yellow metal, expecting prices to end the year at $1,000 or lower.
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