Published on: June 22, 2010 at 20:40
Gold prices have once again climbed to record levels of $1264 last week before correcting on profit taking thereby cementing the appeal of the yellow metal as a safe haven for investors. China announced its move toward a more flexible currency exchange rate mechanism which has improved the investor sentiments in general but the softening of the dollar has helped the recent surge in gold prices to record levels.
This has led to further bullish forecasts on gold prices with some analysts quoting $2000 gold with in a year. In this scenario, Atul Shah, Head, Emkay Commotrade in an interview told Sreekumar Raghavan of Commodity Online that he expects gold to immediately target $1300-1500 and global supply-demand factors will weigh on market sentiments rather than domestic factors. LINK...
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Here they are folks, the analysts with higher short-term targets on gold. By year's end we'll start seeing more and more predictions like $3,000--$5,000--$7,000 gold. BK
