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Gold has the potential to rise to $3500-4000: Sharps Pixley

Posted on 25 September 2012

Gold has the capacity to rise to $3500 to $4000 an ounce depending on the increasing size of the US balance sheet, according to Ross Norman, CEO of Sharps Pixley, London. The Fed balance sheet which has grown four-fold from pre-crisis levels is set to double again.
“If gold is to maintain its run rate - and why wouldn’t it - and if prices were to correlate with the size of the US monetary base, this would suggest that the gold price rally is also only roughly half way there (arguably it would outperform as confidence in the US dollar evaporates)………………………………………..Full Article: Source


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