Gold Price Forecasts Gone Schitzo

Seeing that gold prices are somewhat schizophrenic these days, I thought I’d surf the Internet to see what some of the “big” financial institutions are predicting concerning the direction the precious metal might take. I found there to be no shortage of gold price forecasts out there. From the MarketWatch blog The Tell on Tuesday:

Goldman slashed its three-month gold-price forecast to $1,615 an ounce from $1,825, its six-month forecast to $1,600 an ounce from $1,805 and its 12-month forecast to $1,550 an ounce from $1,800…

Also on Monday, a BofA Merrill Lynch Global Research report said the larger bull trend for gold remains intact. “From the perspective of contrarian opinion analysis, a bottom and bullish turn in gold is close at hand.”

And Morgan Stanley said gold prices are “nearing the bottom of their trading range of US$1,540/oz to US$1,800/oz.”

At UBS, analyst Julien Garren said a major gold rally is coming in the third quarter.

Last week, though, Citi was talking price hibernation for gold, as news that George Soros and another big hedge fund were backing off gold.

There’s also this from Bloomberg on the Taipei Times (Taiwan) website yesterday:

An inevitable unwinding of gold’s 12-year bull market has begun, Credit Suisse Group AG said on Thursday in a report.

Geez. Even these forecasts are all over the place.

As far as I can tell, the underlying fundamentals behind gold’s generally steady rise are still intact. The world’s central banks have the printing presses going at full speed in what some are calling a new global currency war. And just this Tuesday Federal Reserve Chairman Ben Bernanke reaffirmed his support for the central bank’s $85 billion bond-buying program, or what’s come to be known as QE4.

Yep, the yellow metal still has some glimmer left to it it seems

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

Sources:

“Gold forecast melee: Goldman joins in, slashes forecast to $1,550.” The Tell. 26 Feb. 2013. (http://blogs.marketwatch.com/thetell/2013/02/26/gold-forecast-melee-goldman-joins-in-slashes-forecast-to-1550/). 27 Feb. 2013.

“Gold’s price cycle likely to have turned: analysts.” Bloomberg. 27 Feb. 2013. (http://www.taipeitimes.com/News/biz/archives/2013/02/27/2003555794). 27 Feb. 2013.

Tags: , , , , , , , , , , , , ,

No comments yet.

Leave a comment

Survival And Prosperity
Est. 2010, Chicagoland, USA
Christopher E. Hill, Editor

Successor to Boom2Bust.com
"The Most Hated Blog On Wall Street"
(Memorial Day Weekend 2007-2010)

This Project Dedicated to St. Jude
Patron Saint of Desperate Situations



Please Rate this Blog HERE

happyToSurvive

Advertising Disclosure here. "Code Needed"=Promo Code Found On Advertiser Website. Ad Captions Last Updated 6/2/16.
ANY CHARACTER HERE
Blade HQ Knives Blade HQ Review Coming Soon
ANY CHARACTER HERE
Buy Gold And Silver Coins Gold/Silver Sale, inc. Chinese Gold Pandas, 90% Silver Franklin Half Dollars (Singles/Rolls/Bags), 1 Oz. Silver Mexico Libertads (Singles/Rolls), Silver Bullion Bars (1 Oz., 100 Oz., Monster Boxes). BGASC Reviewed HERE.
ANY CHARACTER HERE
BullionVault World's Largest Online Investment Gold Service & Part-Owned By World Gold Council. BullionVault.com Reviewed HERE.
ANY CHARACTER HERE
Buy 3-Month Emergency Food Supply, Get FREE Ultimate Breakfast Kit ($99 Value) Thru 6/10. MyPatriotSupply.com Reviewed HERE.
ANY CHARACTER HERE
Survival Titles Save 20% Memorial Day Sale Continues! Save 40% Off Orders Over $40 (Code Needed). Paladin Press Reviewed HERE.
ANY CHARACTER HERE
World's First Bulletproof Baseball Cap Only $129; Bulletproof Ceramic Plate (NIJ Level III Stand-Alone) Only $169; Bulletproof Backpack/Messenger Bag Panel Only $99. BulletSafe Reviewed HERE.
 

Categories

Archives

Prepper Website

RSS Chris Hill’s Other Blog: Offshore Safe Deposit Boxes

  • Related Reading: Martin Armstrong Post On Problems With Bank Safe Deposit Boxes
    Earlier this month I brought up a blog post by Martin Armstrong, economist at Armstrong Economics and the subject of the 2014 documentary The Forecaster, in which he warned: Governments are targeting safe-deposit boxes to look for cash that is hiding from taxation… Anything of value that is stored in a safe-deposit box is now […]
  • Related Reading: Coin Update Interview Of Sharps Pixley CEO Ross Norman
    Last week I mentioned a WealthBriefing.com article that featured the new Sharps Pixley showroom/safe deposit box service in London, England. The other day I came across another piece about the operation on the Coin Update website (“Daily Coin Collecting News”). Michael Alexander recently interviewed Sharps Pixley CEO Ross Norman “to learn about the business’s new […]
  • Latest Offshore Safe Deposit Box Promotions
    Here are the latest limited-time specials from offshore safe deposit box facilities listed on this blog’s sister site (link included to web page where each promo is displayed): Africa Nigeria Bulwark Vault & Safes Deposits Ltd. (Lagos)- “Join the Bulwark Membership Club. 25% Off Rent & Renewal- Premium Platinum. 15% Off Rent & Renewal- Platinum. […]
  • Related Reading: In-Depth Look At Dublin’s Merrion Vaults
    It’s been a while since I last blogged about the Dublin, Ireland-based private vault Merrion Vaults (although I have talked about co-founder/director Séamus Fahy more recently as it related to their sister safe deposit box facility, Glasgow Vaults). Anyway, I recently spotted an article on Irish website Fora (“Business news and insights for Ireland’s startup […]
  • Latest Additions To List Of Offshore Private Vaults
    Here are new entries to that list of offshore private vaults on my website of the same name: • City Bunker (San Pedro Garza García, Mexico- translated) • Hausler (Córdoba, Argentina- translated) • Punta Carretas Cofres Fort (Montevideo, Uruguay- translated) • Service & Meetingpoint Saxenwald (SMS) (Reinbek in Hamburg metro area, Germany) • Telesforo Gestión […]