Tuesday, April 12, 2011

Standard Chartered Forecast Spreads

If Stanadrd Chartered's analysts were hoping for their forecast of $2100 gold to go viral, they've gotten their wish. Reversing their previously bearish stance has gotten them a fair bit of exposure for their call. The latest person to pass it along is Richard Evans of the Telegraph. Rather than comment, he contents himself with a summary.
Rising demand for gold in China and India will drive the precious metal's continued bull run, analysts at Standard Chartered, the Asia-focused bank, predicted. They said low interest rates in America and a time lag before mines started supplying more gold would see the rally extend to at least 2014....

When one bank's forecast goes viral, there's an incentive for others to try. We may see another formerly skeptical institution join the party.

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