How high is gold likely to go?
My own research tells me we should expect gold to easily reach $2,200 in 2012.
A few market mavens have been providing their forecasts too.
Sean Boyd, chief executive officer (CEO) of $7 billion Agnico-Eagle Mines Ltd (NYSE: AEM), recently told King World News, "People are looking for hard assets and gold, being one of the primary hard assets, is a major beneficiary. So we don't see any reason to believe this upward trend in gold won't continue. I think it will continue and we will see $2,000 shortly."
Rajan Venkatesh, managing director for Indian bullion at ScotiaMocatta, said he expects gold prices to touch $2,000 an ounce by March.
And this past June, Standard Chartered PLC (PINK: SCBFF) made what some think is an "outrageous" prediction.
The bank's research team considered the production levels of 345 gold mines and concluded production will rise just 3.6% annually for the next five years, while demand expands much faster.
Their price prediction: $5,000 gold is likely in the near future.
No comments:
Post a Comment