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UAE-based ‘gold hand’ Maktari sees gold at US$2,200 in 2011 if Fed announces QE3

Posted on 13 October 2011

Maktari, the so-called ‘Gold Hand’, the international gold trader who some believe can control the price of gold, has today forecasted gold to reach US$2,200 per ounce by the end of 2011.
In a commentary emailed to BI-ME, Maktari said: “At the start of the year, many analysts, including myself, predicted gold would reach up to US$1,600 an ounce before the end of the year, given the dire global economic situation and the yellow metal’s appeal as a safe haven. But as the months rolled on, most analysts had to revise their outlook upward, and more so since the beginning of August and the downgrade of US debt.”………………………………………Full Article: Source


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