Gold Price Forecasts Raised by JP Morgan

Source:

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.

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.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe