ZLATO - US$1000 v novom cykle

Zlato v ďalšej fáze by mohlo dosiahnuť úrovne až US$1000, tvrdí analytik Citigroup.

With gold having broken the US$730 per ounce mark to reach a 28-year high, Citigroup analyst John Hill says the metal appears to be entering a new investment-driven phase and has re-asserted itself as a safe haven. He thinks gold will be one of the top beneficiaries of the “Re-flationary Rescue,” which should bode well for hard assets and basic materials.

As for gold stocks, they “anticipated the move, and have fully, finally participated,” he told clients in a note.

The resurgence of gold conveniently coincides with the seasonal strength that typically comes with Western holidays, Indian festivals and the Chinese New Year. However, this could set up a correction early in 2008, Mr. Hill said.

Nonetheless Citigroup continues to be bullish on bullion and expects the multi-year bull market to continue with prices to average US$750 in 2008 and 2009.

Mr. Hill says he would not be surprised if gold were to break its all-time high of US$850, or even US$1000 or higher in a “new cycle of global credit creation and competitive currency devaluations.”

Source: ComCanada


"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value."   Alan Greenspan