Raymond James Hikes Targets for Gold and Silver, Related Stocks

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One of the reasons behind Raymond Jamesí decision to raise its 2008 long-term price target for gold to $650 (2008 forecast) is the fact that the StreetTRACKS Gold Trust (GLD) has continued to add gold-backed ounces.

The surging popularity of commodity-backed exchange-traded funds in recent years has completely changed the way investors, analysts and other market players make decisions.

One of the reasons behind Raymond Jamesí decision to raise its 2008 long-term price target for gold to $650 (2008 forecast) is the fact that the StreetTRACKS Gold Trust (GLD) has continued to add gold-backed ounces.

The total amount of gold in the StreetTRACKS trust is 15.67 million ounces, worth roughly US$10.7-billion.

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