From the CS morning email (I do not have the underlying report)
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WE UP THE ANTE ON GOLD PRICE FORECAST, RAISING OUR 2021 GOLD PRICE TO US$2,500/oz (~30% ABOVE CURRENT) … AND 2022 GOLD PRICE TO US$2,200 (~13% ABOVE CURRENT); MAIN REASONS INCLUDE (1) OUR EXPECTATION THAT US TIPS WILL MOVE LOWER AND THE $US WILL WEAKEN FROM CURRENT LEVELS, BOTH SUPPORTIVE OF GOLD PRICES, (2) WE ALSO SEE POTENTIAL FOR INCREASED INFLATION, NOTING GOLD’S PROPERTIES AS AN INFLATION HEDGE SHOULD ALSO PROVIDE PRICE SUPPORT, & (3) RECOVERY IN JEWELLERY & CENTRAL BANK DEMAND … THE RESULT IS THAT WE GO “ALL IN” ON GOLD STOCKS … THE MESSAGE IS CLEAR – WHILE WE HAVE BEEN BULLISH GOLD FOR A WHILE NOW, THE MACRO PICTURE HAS STRENGTHENED OUR VIEW ON GOLD THIS NEXT COUPLE OF YEARS AT LEAST; GIVEN THIS, WE THINK IT’S TIME TO THINK ABOUT UPPING GOLD EXPOSURE IN YOUR PORTFOLIO AS WE HEAD INTO AN UNCERTAIN POST COVID (POST STIMULUS) WORLD WHERE THE ECONOMIC RAMIFICATIONS ($US, TIPS YIELD) PLAY OUT IN FAVOUR OF GOLD
CS - bullish on gold
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Last
$1.59 |
Change
-0.020(1.24%) |
Mkt cap ! $1.722B | |||
| Open | High | Low | Value | Volume |
| $1.62 | $1.63 | $1.58 | $6.790M | 4.260M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 10288 | $1.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 5848 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.59 |
Change
-0.020 ( 1.10 %) |
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| Open | High | Low | Volume | ||
| $1.63 | $1.63 | $1.58 | 1171576 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| GOR (ASX) Chart |