Based on analysts' forecasts many investors were expecting 2012 to be another strong year for gold. But looking at the market recently may cause some investors to wonder if the professionals got it right.
Goldman Sachs is bullish on the yellow metal and recommends long positions with conditions in the US appearing to play a major factor.
Bloomberg reported that gold is still offering the best returns, and the metal is predicted to continue performing well.
MarketWatch reported that anticipation of ongoing low interest rates prompted Goldman Sachs to raise its price forecasts for gold and silver.
GFMS Group’s well-respected annual Gold Survey report is out for 2010, but what’s got most in the precious metal markets talking is the comments made by Philip Klapwijk, chairman of precious metals research at GFMS, during an interview with Reuters: “There are pointers to the fact that we are entering the final stages of a bull market.”
Since Saint Paddy’s Day 2009, gold has gained 23 per cent. Many Gold Stocks have posted even more impressive gains.
By Kishori Krishnan Exclusive To Gold Investing News Goldman’s gold-plated earnings set the score. Citigroup and Bank of America joined Goldman Sachs and J.P.Morgan in reporting better-than-forecast earnings for the second quarter of 2009. A fact that buoyed the market and the price of gold. Next week, the main event is slated to be the [...]
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