BMO Capital Markets Bart Melek says commodity prices are riding the global recovery wave with copper, platinum, silver met coal, and iron ore as his top picks.
Author: Dorothy Kosich
Posted: Friday , 23 Apr 2010
RENO, NV -
Under the right circumstances, BMO Capital Markets' Bart Melek says gold could rally as high as $1,600 per ounce by 2011.
In analysis published Thursday, Melek said, "Silver, platinum and palladium are expected to outperform gold, benefiting from their quasi-money properties and high use in industrial applications."
"Gold is projected to strengthen modestly, buoyed by long-term inflation concerns, sovereign debt, the U.S. dollar, fiat currencies generally and the expectation that the Fed will not raise rates aggressively," he said.