Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Gold Prices
Gold Price
[Most Recent Quotes from www.kitco.com]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« All roads lead to Berlin | Main | A Blast from the Past from President Obama »
Sunday
Aug052012

Gold to Rally Above $1,900 by End 2012: HSBC

 

Gold could be one of the few assets to profit from the political and economic turbulence in the United States as the “fiscal cliff” approaches, potentially creating a rally in the precious metal later in 2012 for it to reach $1,900 per ounce by the end of the year, analysts at HSBC said.

Economic uncertainty, geopolitical tensions and the uncertainty of the U.S. November elections are theoretically gold-bullish,” and gold should perform better later in the year “when U.S. growth is poor and the dollar is weak,” a new HSBC report said. “We expect prices to rally to above $1,900/oz by the end of the year. Patience is the most important commodity.”

HSBC recommends holding onto gold as an asset that will gain in value as investors fear the future of the euro and dollar  with governments and central banks expected to intervene to shore up their currencies’ strength.

According to commodities’ analysts at the bank, the outlook on gold is positive for the second half of the year despite the current stall in the gold rally due to a rise in supply, lack of demand in the jewelry sector and uncertainty about the European financial crisis and U.S. “fiscal cliff” approaching at the end of 2012, when the U.S. government must decide whether or not to increase taxes and introduce spending cuts, which could risk a slowdown similar to Europe's.

Traditionally, gold has been a safe haven for investors looking to park their money in a stable asset, but so far in 2012, gold prices have slumped nearly $400/oz. From the record highs of September 2011 when an ounce fetched $1,920, prices have now fallen to around $1,600/oz over the last three months, prompting investors and analysts to question why the gold price isn't racing higher as investors look for safe assets in a volatile economic environment.

 Another day, another forecast.

Have a good one!

Regarding www.skoptionstrading.com. We recently closed a trade involving the S&P which generated a profit of 25.61% and was opened just 8 days ago, the charts and stats have now been updated.

Our trading success rate is 91.00%

91 profitable trades out of 100.

Our model portfolio is up 455.14% since inception

An annualized return of 81.15%

Our annual performance figures are as follows:

2009 We made a profit of 23.89%

2010 We made a profit of 158.66%

2011 We made a profit of 40.95%

In 2011 we outperformed:

S&P by 42%

HUI by 53%

Gold by 31%

Silver by 41%

The 2011 Annual Report by be accessed via this link.


Also many thanks to those of you who have already joined us and for the very kind words that you sent us regarding the service so far, we hope that we can continue to put a smile on your faces.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. Winners of the GoldDrivers Stock Picking Competition 2007  

If you are new to investment in the precious metals sector then you may wish to subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>