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Where to, Gold prices? Even the experts are not sure

dailybrief on 26/12/11 tags: business  Comment: 0 Save: 0

What is the status of the "ultimate safe haven", gold? On one hand, you have Bank of America Merrill Lynch analysts saying Gold may reach $2,000 to $2,500 per ounce in 2012 as many central banks in emerging markets will try diversify their holdings. But, on the other hand, you have this survey of 20 hedge fund managers, economists and traders (conducted by Reuters), which says that Gold will slip below $1,500 as most central banks (normally big buyers of gold) have no plans of immediate monetary easing or stimulus programs.

Huh? What does this mean? If these experts cannot agree, who are we to 'outexpert' them? However, if the prices do fall, there is a buying opportunity, and looking at the gloomy global economic scenario, you may gain when the price rise in about a year's time. Maybe.



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