Tags

, , , , , , , ,

NEW YORK (Commodity Online):Barclays Capital has revised up its gold forecasts to $1,810 an ounce for the fourth quarter this year and an annual average of $1,860 for next year.

The metal has already risen sharply after the Federal Reserve embarked upon a third found of quantitative easing, but Barclays sees potential for further buying.

“Physically backed gold ETPs (exchange-traded products) have gained momentum to set a fresh record high but speculative positioning, which has risen, is not overextended,” Barclays added.

http://www.commodityonline.com/news/gold-to-average-$1810oz-in-q3-2012;-$1860-in-2013-barclays-50477-3-50478.html

 

Advertisements