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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

HSBC expects $1,900/oz gold by year-end, ups 2013 forecast

Posted on 19 October 2012

HSBC said it looks for gold prices to hit $1,900 an ounce by year-end. “The Federal Reserve’s third round of asset purchases via quantitative easing (QE3) and other central banks’ policy easing measures are measurably boosting gold-investment demand,” the bank said in an updated forecast.
“For investors who expect QE3 will fail to jump-start economic growth, gold offers an attractive quality asset. For investors concerned about the inflationary impact of QE3, gold appeals as an inflation hedge.” Concerns about U.S. fiscal issues and the likelihood of a weaker U.S. dollar are additional factors supporting gold, the bank said………………………………………..Full Article: Source


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