SOCIETE GENERALE (AUG 22)
* SocGen raised its average gold price forecast to $1,950 an ounce for the fourth quarter of 2011, pushing its 2011 annual average to $1,660 an ounce.
* The bank also raised its 2012 forecasts to average $2,275 per ounce, and sees the metal trading around $2,500 an ounce in the fourth quarter of 2012.
* "A combination of continued highly accommodative monetary policy, anemic growth, and continuing sovereign debt problems will continue to push gold to new highs," SocGen added.
BANK OF AMERICA-MERRILL LYNCH (AUG 9)
* Bank of America-Merrill Lynch said in a research note it was revising its 12-month gold target to $2,000 an ounce.
* "Physical gold is the ultimate collateral because it has no credit risk, so emerging market central banks have been diversifying their foreign exchange reserves into gold and other non-dollar, non-euro assets in recent quarters," it said.
* "Looking ahead, the deterioration in credit quality in Europe and the U.S. coupled with an increased probability of QE3 means these pressures will continue," it added.
JPMORGAN (AUG 8)
* JPMorgan said rising expectations that the financial crisis would flare up once more following Standard & Poor's downgrade of the United States' credit rating last week had caused it to lift its price view on gold this year.
* "Before the downgrade, our view was that cash gold could average $1,800 per ounce by year end," the bank said in a note. "This view will likely now prove to be too conservative: spot gold could drive to $2,500 per ounce or higher, albeit on very high volatility."
- Forums
- Commodities
- GOLD
- citigroup from 5% to 25% chance of us$2500
citigroup from 5% to 25% chance of us$2500, page-3
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)