Gold forecast: GHS expects gold to top $2,000 by 2013
Gold forecast for next year-to buy or to sell?
Global Hunter Securities(GHS) raised its average gold forecast for 2013 and 2014 on October 24, and said that gold prices can exceed $2,000 /Oz by early 2013.
GHS raised its 2013 forecast to an average of $1,850 /Oz, from $1,500. It additionally updated the 2014 average Gold forecast to $1,750 from $1,400.
Jeffrey Wright and Richard Hastings, strategists at GHS, said in the forecast :“The U.S. Federal Reserve, through multiple initiatives and actions, consequently has become gold’s best friend during the past four years. The commitment from the Federal Reserve to maintain an accommodative policy until 2015 … provides a strong foundation for what we expect will be continued gains in gold prices into 2014”..
