HSBC (NYSE:HBC) Gets Green Signal from Chinese Bank, Goldman Sachs (NYSE:GS) Gold Price Forecasts Declines

Experts at Goldman Sachs (NYSE:GS) on Wednesday declined their average gold-price estimation for 2013 to $1,545 an ounce from forecasted formerly $1,610 and to $1,350 an ounce from $1,490 in 2014.

In spite of revival in euro-area risk aversion and sluggish US economic data, gold prices are flat over the last month, underlining how conviction in possessing gold is rapidly waning, the experts reported in a note.

HSBC (NYSE:HBC) reported that it had won received green signal from China’s central bank to be amid the first market makers for direct exchanging of the Renminbi and Australia dollar in the country’s interbank foreign-exchange market.

China and Australia this week hit a deal to let each other’s currencies to be right away converted from Wednesday. Australia is the third country, following the US and Japan, to secure such a deal with Beijing.

HSBC Holdings plc (ADR) (NYSE:HBC) shares are up +0.76% to $53.04 while the stock is trading within the range of $52.85 – $53.26 in the current trading session. In the last 12 months the shares have traded between $38.56 and $57.37. The current session’s volume of 750,770.00 shares is lower from their average daily trading volume of 1.65 million shares.

At the current trading session, Goldman Sachs Group, Inc (NYSE:GS) shares are up +1.79% to $149.15 while the stocks are trading within the range of $147.24 – $149.74. In the past year, the stock has traded within a range of $90.43 – $159.00. The current session’s volume of 1.69 million shares is lower from their average daily trading volume 4.07 million shares.

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