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Gold price forecasts raised by JP Morgan as investors seek safety

Posted on 16 October 2008

From Mineweb.com: JP Morgan is raising its gold price forecasts for 2008 and 2009 as it anticipates investors seeking risk aversion investment options. JP Morgan said on Wednesday it is raising its price forecast for gold for 2008 and 2009 on expectations investors will buy into bullion as a haven from risk.

However, it is trimming its expectations for platinum, palladium and silver prices on fears over falling demand for the more industrial precious metals. The bank now sees gold prices at $904 an ounce in 2008, against a previous forecast of $884, and at $875 an ounce next year, up from $854 previously expectated….. Full Article: Source


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