Hedge fund manager and billionaire John Paulson said he sees gold prices moving in a range of $2,400 to $4,000 an ounce, citing double-digit inflation emerging by 2012.
Paulson, speaking at New York's University Club recently, said 80 percent of his assets are held in gold.
He added that the coming inflation will result in gold prices being pushed up even more.
Paulson also said the inevitable quantitative easing by the Federal Reserve could extend double-digit inflation out for serveral years.
It's possible it could be even more than that depending on the economy and the political pressure to interfere with it, which would result in even more stimulus. That would add to the desirability and value of gold.
Showing posts with label Gold Prices 2012. Show all posts
Showing posts with label Gold Prices 2012. Show all posts
Wednesday, September 29, 2010
Monday, July 26, 2010
UBS (NYSE:UBS), CIBC World Markets, TD Securities Increase Gold Estimates
Last week, investment banks UBS (NYSE:UBS), CIBC World Markets and TD Securities all increased their outlook on gold prices, will all of them looking for around $1,300 an ounce or more going forward.
UBS was the last of the three during the week to upwardly revise their numbers, increasing their outlook from $1,129 an ounce to $1,205 an ounce for 2010, and up to $1,295 an ounce, from $1,250 an ounce in 2011.
The dubious stress tests and their results didn't impress UBS, as it didn't many others, as the bank noted that "ongoing pressure on sovereign debt markets, combined with persistent concern over private sector credit contraction will raise the specter of debt monetization repeatedly over the next few years.”
TD Securities increased their gold price estimates in 2011 from $1,100 to $1,300, and from $1,000 to $1,400 in 2012. They also cited global economic uncertainties as the impetus behind their changes in viewpoint concerning gold.
For CIBC World Markets, their changes were the largest, increasing their outlook in 2012 to $1,500 an ounce. Over the long term, they see gold leveling at from $1,000 to $1,200 an ounce.
The fall season is historically a big mover for gold prices, and with prices continuing to find support a slightly below $1,200 an ounce, gold could make a big move starting in September.
UBS was the last of the three during the week to upwardly revise their numbers, increasing their outlook from $1,129 an ounce to $1,205 an ounce for 2010, and up to $1,295 an ounce, from $1,250 an ounce in 2011.
The dubious stress tests and their results didn't impress UBS, as it didn't many others, as the bank noted that "ongoing pressure on sovereign debt markets, combined with persistent concern over private sector credit contraction will raise the specter of debt monetization repeatedly over the next few years.”
TD Securities increased their gold price estimates in 2011 from $1,100 to $1,300, and from $1,000 to $1,400 in 2012. They also cited global economic uncertainties as the impetus behind their changes in viewpoint concerning gold.
For CIBC World Markets, their changes were the largest, increasing their outlook in 2012 to $1,500 an ounce. Over the long term, they see gold leveling at from $1,000 to $1,200 an ounce.
The fall season is historically a big mover for gold prices, and with prices continuing to find support a slightly below $1,200 an ounce, gold could make a big move starting in September.
Tuesday, May 25, 2010
Goldcorp (NYSE:GG), Kinross (NYSE:KGC) Should be Outperformed by Barrick (NYSE:ABX), Newmont Mining (NYSE:NEM) says Deutsche Bank (NYSE:DB)
Deutsche Bank (NYSE:DB) analyst Jorge Beristain probably didn't win any friends from Goldcorp (TSE:G) (NYSE:GG) and Kinross Gold (NYSE:KGC) today, as he upgraded major rival Barrick Gold (TSE:ABX) (NYSE:ABX), and reiterated their "Buy" rating on Newmont Mining.
What he added I'm sure ruffled their feathers, as he said Barrick and Newmont should outperform Goldcorp and Kinross in the current economic environment.
Beristain also said the changes in the macro economic picture makes the gold situation even more compelling, as he raised his price targets for gold in 2011 to $1,450, and in 2012 to $1,600 an ounce.
His price target was raised on Barrick from $45 to $53.
What he added I'm sure ruffled their feathers, as he said Barrick and Newmont should outperform Goldcorp and Kinross in the current economic environment.
Beristain also said the changes in the macro economic picture makes the gold situation even more compelling, as he raised his price targets for gold in 2011 to $1,450, and in 2012 to $1,600 an ounce.
His price target was raised on Barrick from $45 to $53.
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