Thank you for the kind word, mate. Please find an interesting article on gold prediction this year below.
Morgan Stanley Predicts Gold to Hit $2,200 in 2012... Maybe as High as $2,464By Brian Hicks
Friday, January 13th, 2012
Morgan Stanley is predicting gold will be the best-performing commodity in 2012 — and may make a new record high as investors look to secure their wealth against European uncertainty and slowing economic growth.
Their price target is $2,200 an ounce… with the potential to reach as high as $2,464.
Goldman Sachs is less aggressive, but bullish nonetheless.
Their price target for gold in this year is $1,940 an ounce:
We’re staying overweight on commodities as a rebound in demand revives speculation of shortages, with gold a favorite for 2012 as investors seek a hedge against Europe’s debt crisis.
Demand for gold strengthened most of last year as Europe’s debt crisis widened and the U.S. Federal Reserve pledged to keep interest rates near zero until at least mid-2013. Low interest rates increase the appeal of bullion because they generally reduce the prospect of returns on bonds.
Our view on gold is driven by our view on underlying real interest rates. It is the sharp drop in price that makes it more attractive.One of the things I do to gauge the gold market is I go to coin and bullion dealers.
Before coming to the office today, I stopped in to see my favorite coin and bullion dealer. And I can tell you business in his shop is still booming.
Then came this little tidbit over the wire...
Hong Kong reported this past Wednesday that their
gold imports reached record heights this month as investors rushed to the precious metal before the Luna New Year — a weeklong holiday beginning on January 23 — in order to "hedge against financial turmoil."
According to Bloomberg:
Demand for gold is climbing in China as investors seek to protect their wealth against slumping property prices and equity markets amid an inflation rate above 4 percent. The nation overtook India in the third quarter as the largest gold jewelry market, according to the World Gold Council.
The country is also the biggest producer. Bullion rose as much as 0.9 percent to $1,647.45 an ounce today, the highest since Dec. 13.I usually read Wall Street predictions with a skeptical and suspicious eye.
But I actually think they’re spot-on with their call — especially after reading the Chinese story.
And the chart of gold suggests they’re right.
Take a look:
Gold is setting up a double-bottom formation after selling off late last year.
You see, this pattern formed before — in 2008-2009.
In fact, it’s almost the exact same formation:
Gold broke out perfectly from the “W” formation… and hit the precise price target is was supposed to hit.
The current chart suggests a breakout to $1,950 — almost exactly what Goldman is predicting.
I’ve been long gold for several years. I’m still long this year.
Source:
http://www.wealthdaily.com/articles/gold-going-to-2000/3366QUOTE(desmond_fantasy @ Jan 17 2012, 04:57 PM)
Ya, i think so. You are doing much researchs as well. Hope that gold price will really rise this year.
Jan 17 2012, 02:14 PM
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