Credit Suisse – Gold Bears for 2015Author: David GoldsteinLast Updated: December 9, 2014 Credit Suisse is Bearish Gold. In a report outlining 2015’s outlook, Credit Suisse is short gold. Analysts with the firm set a target price of $950 for gold by the end of 2015 and according to David Sneddon, the fact that gold recently hit under $1,180 confirms a continuation pattern of a bearish triangle.As part its rationale, Credit Suisse states that relative to historical norms, gold is still extremely expensive and as US interest rates start to rise, carrying costs will become more punishing. In addition, as strength in the US dollar continues, gold should remain under pressure.Also included in the report Credit Suisse argues that against inflation, equities are now a hedge, which is something that usually goes with commodities, specifically gold.Credit Suisse is not the first research firm to suggest that gold could be facing some troubles amid the most recent decline in gold prices. Earlier in October, Ned Davis Research analysts said that that while gold is going through a declining supercycle, precious metal could be moving toward $660.In looking at gold on a long-term chart, it becomes apparent that it has been several difficult years for gold. Although there was some rebounding for gold last week, things are not as bright long-term.