Morgan Stanley to Goldman Cut Gold Forecasts on Fed Outlook

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Morgan Stanley cut its 2013 target to $1,409 an ounce from $1,487, reduced its prediction for 2014 to $1,313 from $1,563, and trimmed its 2015 estimate to $1,300 from $1,450.

The bank also lowered its gold and silver forecasts through 2018, analysts Peter Richardson and Joel Crane wrote in a report.

Goldman cut its 2013 year-end price target to $1,300 from $1,435 and lowered the 2014 prediction to $1,050 from $1,270.

HSBC yesterday reduced their 2013 forecast to $1,396 from $1,542 and trimmed their 2014 estimate to $1,435 from $1,600.

Credit Suisse Group Inc. lowered its estimates today.