Fat Prophets focus: "Gold - Time conquers all" Dismissed a few years ago as a barbarous relic, gold and gold shares have regained their composure over the past twelve months to outperform most asset classes. Generally, analysts' expected very little from the precious metal during 2003, and in fact many predicted a drop below US$300. Despite this consensus view, the $400 level was breached for the first time since 1996.
In terms of Fat Prophets' outlook for 2004, they believe gold will finish the year above US$500 an ounce. While strong historical resistance may be encountered between US$400 and 420, this will only temporarily halt the bull market in their opinion.
PNA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
