$2,000 Gold to Arrive Next Year, Says Deutsche Bank
Deutsche Bank became the latest firm to raise its forecast for gold and silver prices, based in large part on the Federal Reserve’s recent decision to begin a third round of quantitative easing (QE3).
The European-based bank increased its 2013 average gold target by 3% to $2,113 per ounce and its 2014 average estimate by 11.1% to $2,000 per ounce. It also noted that the yellow metal may surpass the $2,200 at some point next year – which would bring it to within $100 of its inflation-adjusted all-time record high of approximately $2,300 per ounce.
As for silver, the firm lifted its 2013 average target by 3% to $44.00 per ounce and its 2014 forecast by 11.1% to $40.00 per ounce.
(View gold price forecasts and commentary from many different firms at GoldAlert Pro – http://pro.goldalert.com )
In the firm’s report, Deutsche Bank analyst Michael Lewis wrote that “We believe central bank action to stimulate growth, avoid deflation and reduce systemic risk is unambiguously bullish for the precious metals sector and specifically gold.”
Lewis added that “While we have targeted gold prices moving above $2,000/oz since the beginning of 2011, we believe the Fed’s open-ended program of QE announced last month increases our confidence that a surge in the gold price above this level is only a matter of time.”
2012-10-03 05:42:45
Source: http://www.goldalert.com/2012/10/2000-gold-to-arrive-next-year-says-deutsche-bank/
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