John Ing predicted that gold would hit $2011 in 2011. Bullion didn’t quite make it that high, and pulled back -- but Ing isn't about to bail on his bullish forecast for the precious metal.
The gold analyst and president of Maison Placements Canada says, "what will propel gold is the lower U.S. dollar this year.”
Ing is also bullish on gold equities as well. Here’s why:
He expects more gold companies to return some of the capital earned to shareholders. “The higher the gold price goes, the bigger the dividends,” he says
He also says there is a dearth in new gold deposits. “If you take the top ten producers… if you take their market cap per ounce in the ground, you’d have something like buying gold for an 80 percent discount.”
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