JPMorgan predicts Gold At $1,800 by mid 2013 As South Africa “In Crisis” And “Escalating Instability” In Middle East. J.P. Morgan Chase & Co. stated gold would rise to $1,800 an ounce by the middle of 2013, with the mining industry in South Africa “in crisis,” based on reports. South Africa, once the largest gold producer confronts industrial unrest, high wage inflation and also adverse regulatory changes for local mines, Allan Cooke, an analyst in the bank, stated in a report dated recently.
Gold will get an increase in price from prospects of more stimulus from the U.S., Japan and Europe, the potential for escalating uncertainty in the Middle East as well as low interest rates, based on the report. (Press Release)