from dow jones newswires FYIDJ MARKET TALK: GSJBW Upgrades Gold...

from dow jones newswires FYI

DJ MARKET TALK: GSJBW Upgrades Gold Sector, Bullish Outlook

2247 GMT [Dow Jones] Goldman Sachs JBWere upgrades gold equities view based on bullish
gold price outlook. Says gold does well when purchasing power of fiat currencies comes
under threat, and that threat is currently present in form of government efforts to
address recession and financial crisis is likely leading to printing of money, debasing
value of paper currencies. Also points out that transfer of risk, i.e. governments
bailing out banks, raises risk of sovereign default. GSJBW sees gold trading in
US$850-US$1,050/oz range for 2009. Upgrades gold miner ratings, including Lihir Gold
(LGL.AU) to Buy from Hold, Newcrest Mining (NCM.AU) unchanged at Hold, Sino Gold (SGX.AU)
to Buy from Hold, Avoca Resources (AVO.AU) to Buy from Hold, Kingsgate Consolidated
(KCN.AU) to Hold from Sell, St Barbara (SBM.AU) to Hold from Sell. (EFB)