June 04, 2010, 2:02 PM EDT By Alex Emery
June 4 (Bloomberg) — Gold, which touched a record of $1,249.70 last month, may rally another 36 percent as Asian central banks buy for the first time in two decades, said Michael Lewis, head of commodities research at Deutsche Bank AG.
The precious metal may rise to as much as $1,700 an ounce over the next year on concerns that budget deficits will weaken major currencies, Lewis said in an interview yesterday in Lima. Exchange-Traded Funds, known as ETFs, where gold futures make up 80 percent, are also having an “enormous impact,” he said. LINK...
