Gold to track oil, hit $1,500/oz in 2011 -BoA
posted on
Oct 06, 2009 12:06PM
Dear shareholders,
In an effort to keep you up to date on the resource sector and more specifically gold bullion, please see the article titled “Gold to track oil, hit $1,500/oz in 2011 –BoA.”
Gold prices will hit $1,500 an ounce in 2011 when oil prices move back above $100 a barrel as emerging market growth creates shortages, Bank of America Merrill Lynch said on Monday.
LONDON, Oct 5 (Reuters) - Gold prices will hit $1,500 an ounce in 2011 when oil prices move back above $100 a barrel as emerging market growth creates shortages, Bank of America Merrill Lynch said on Monday.
"For the world economy to resume growth of 5 percent, commodity supplies must expand by a similar rate, " said Francisco Blanch, head of global commodity research at the U.S. bank.
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