Citi Raises Gold Price Forecasts for 201213

Source:

"The bank increased its 2012 price forecasts for gold, silver and platinum by about 2%, 5% and 1.5%, respectively, while it cut its earlier forecast for palladium prices by about 1.7%."

Reuters, Naveen Arul

Citigroup raised its gold price forecasts for 2012 and 2013, saying ongoing global economic issues are causing gold to remain a favored asset for investors.

"With continued concerns over the economic health in the developed world, safe-haven demand has seen renewed investor interest in gold-linked securities," analysts at the bank said in a note dated Sept. 24.

Citi raised its year-end price forecasts for most precious and base metals.

The bank increased its 2012 price forecasts for gold, silver and platinum by about 2%, 5% and 1.5%, respectively, while it cut its earlier forecast for palladium prices by about 1.7%.

For 2013, Citi raised gold and silver price expectations by over 3% each, and those of platinum and palladium by over 6% each. . .View Full Article

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