HSBC Raises 2009 Gold Forecast to $875 from $825
Source: Reuters (5/14/09)
"Inflation fears are supporting gold. . ."
"Inflation fears are supporting gold ... Possible USD (U.S. dollar) weakness remains a potential source of support. Stagnant mine output, reduced official sector sales, and robust ETF and retail demand are also supportive factors," James Steel, chief commodities analyst at HSBC, said on Thursday.
Steel kept his silver price outlook unchanged at $12.50 an ounce and platinum outlook at $1,100 an ounce for this year. However, he cut his palladium outlook to $225 from $250 an ounce, citing sliding auto production.