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

Gold prices could skyrocket to $3,500, in wild unorthodox estimate from Citi analyst

Posted on 30 August 2013

Gold prices could climb to $3,500 per ounce in the next few years, well beyond double the current market price of $1,411, according to an unorthodox estimate by Citigroup Inc analyst Tom Fitzpatrick.
Fitzpatrick argues on technical and historical grounds that the long-term trend for gold is strongly bullish. “We believe we are back into that track where gold is the hard currency of choice, and we expect for this trend to accelerate going forward,” Fitzpatrick told the blog. “We still believe that in the next couple of years we will be looking at a gold price of around $3,500.”……………………………………….Full Article: Source


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