Forecasters expect gold prices to drop additional 11% by end of 2015

New York

THERE is going to be no relief any time soon from gold's worst losing streak in almost two decades, according to the most-accurate forecaster for precious metals.

After sliding about one per cent since December, prices will drop an additional 11 per cent by the end of 2015, reaching US$1,050 an ounce, a five-year low, predicted Barnabas Gan, an economist at Oversea-Chinese Banking Corp in Singapore. Mr Gan topped 19 of his peers from banks including Standard Chartered plc and ABN Amro Bank NV to become the most accurate analyst over the past two years, Bloomberg Rankings show.