ScotiaMocatta Anticipates $676/oz Gold, $20/oz Silver In 2007

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Canada’s Scotiabank’s bullion division ScotiaMocatta latest monthly precious metals analysis anticipates that gold may challenge $676/oz prices this year, while calls for silver to reach $20/oz “do not seem too farfetched.”

Canada’s Scotiabank’s bullion division ScotiaMocatta latest monthly precious metals analysis anticipates that gold may challenge $676/oz prices this year, while calls for silver to reach $20/oz “do not seem too farfetched.”

...“Gold has launched itself on another up leg and the weight of investment money seems to be a primary reason behind the move, although numerous other factors also support a firmer price,” according to ScotiaMocatta’s analysis. “The big picture outlook for gold is still positive, but a close eye needs to be kept on the dollar. Overall look for gold to make upside progress with $676/oz now in focus.”

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