By Claudia Assis | MarketWatch
SAN FRANCISCO (MarketWatch) — Gold futures could trade as high as $1,500 by midyear and $1,600 at the end of 2011, a metals consultancy said Thursday. Are gold’s gyrations a bullish sign?
MarketWatch's Mark Hulbert looks at whether the recent big jump and subsequent quick retreat in gold prices is actually a bullish sign for the precious metal.
Gold’s January correction is no indication the metal is permanently on its way down, although the first months of the year could disappoint gold bulls, GFMS said in a report.
Much of gold’s expected run-up in 2011 and early 2012 is likely to be “driven by still-low interest rates, poor returns elsewhere, the elevated level of government debts in Europe, the United States and Japan, and lastly nagging concerns over quantitative easing in the United States and its ramifications for the dollar,” the London-based consultancy said...
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