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Wednesday, July 18th, 2018 - Buy Gold - Bringing you trusted gold news and gold investing information since 2006

Good News for Gold Traders: JP Morgan Forecasts $2,500 Price for Gold and Goldman Sachs Expects Gold Prices to Climb into 2012


JP Morgan, a foremost and global financial services market leader has predicted a surge in the price of gold to attain $2,500 or higher per ounce by year end according to a statement credited to Colin Fenton and Jonah Waxman who are commodity analysts of the financial services giant.

Also, Goldman Sachs expects gold prices to continue to climb into 2012 considering the low level of the real interest rates of the United States and sovereign  debt problems in the US and Europe.  The most interesting thing is the rise in the price of gold in spite of the US’s credit rating downgraded by Standard and Poor’s just last week and the effects of inflation which many including JP Morgan’s analysts initially thought would impacts the prices of gold rather adversely.

In fact, the analysts at JP Morgan were only expecting the prices of spot gold to average $1,800 by the end of 2011 which they now consider to be too conservative when the price of gold opened the trading floor on Tuesday at over $1,700 US dollars an ounce in the US and across Europe in spite of the perceived economic outlook. This new price reached by gold shows that many investors are taking the precious metal to be a safe haven from inflationary effects according to many commodity market experts.

Goldman Sachs, the Wall Street investment bank, has also raised its three months gold price forecasts to $1,645 from $1,565 per troy-ounce. Meanwhile, $1,730 and $1,860 per troy-ounce are the new prices predicted by the investment bank as its six months and twelve months forecasts for gold respectively. Gold is known to have gained more than 20 per cent in monetary value year to date.


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