Thursday, 6 September 2012
JPM and Goldman See $1,800/oz Gold By Year End – Iran, Middle East and Inflation Risks Cited
news.goldseek.com
.
.
.
Research houses, analysts and banks are revising their estimates for year end 2012 gold prices higher.
They believe that concerns about inflation and demands for gold as a store of value should lead to higher gold prices by the end of 2012.
JP Morgan and Goldman Sachs have overnight revised upwards there year end forecasts to $1,800/oz and $1,840/oz respectively.
.
.
.
Bank of America Merrill Lynch analysts Sabine Schels and Michael Widmer said in an email report that gold prices may climb to $2,000 an ounce by the end of the year because the Federal Reserve probably will announce a third round of bond buying.
.
.
.
Capital Economics see gold rising to $2,000/oz due to demand for gold as a protection of wealth.
The Capital Economics forecast is interesting as they are conservative and were quite bearish on gold up until relatively recently.
Capital Economics remain bearish on silver and say silver will end the year at about $32 an ounce.
We differ with them regarding silver which we remain bullish on in the medium and long term and believe the inflation adjusted silver high of $150/oz will be reached in the coming years.
A close above $1,700 today could lead to a sharp move to challenge the next psychological resistance at $1,800/oz.
Full article: http://news.goldseek.com/GoldSeek/1346936400.php
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
| 