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Gold Bullion Bars

Tuesday, November 20, 2012

ScotiaMocatta "would not be surprised" to see gold at $2,200 Even though dollar gold prices are relatively strong, ScotiaMocatta, the gold bullion banking division of Scotiabank, observes that gold in a host of currencies has reached record highs this year. "What is interesting is that this represents a mixture of developed and emerging economies, which highlights the broad-based appeal of gold as an alternative currency." Meanwhile, "having consolidated between September 2011 and September 2012, we feel gold prices have started another up leg that is likely lead to new highs during 2012," ScotiaMocatta said. In their November 2012 Precious Metals Forecast, ScotiaMocatta declared "we would not be surprised to see prices reach $2,200/oz. Should prices undergo another correction in the short term, then we would look for good support around $1,600/oz." "Eventually, once the bull market has run its course and there is less need for safe-havens, then we would look for prices to retrace back towards $1,100/$1,200/oz as investment gold is liquidated and supply surges, but we certainly do not expect that to happen in the year ahead." In their analysis, ScotiaMocatta acknowledged, "There remain a multitude of factors influencing the gold price, but one of the main reasons we are still bullish is because of the mess the Western world is in."


More information can be found online at http://www.goldbullionadvisors.com

Posted by Richard Davey at 4:54 PM

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▼ 2012 (114) • ▼ November (17)


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• ScotiaMocatta "would not be surprised" to see gold... • How many ounces of gold and silver should you own?... • "My three favorite assets are, in no particular or... • "I'm buying physical gold every month," Mauldin Ec... • India's rebounding gold bullion demand lights up 3... • China must increase gold reserves for national eco... • Gold to rise by 6% to $1,843 by September 2013, co... • "Gold bugs love fiscal cliff fears" • "China really does look good for gold," Telegraph ... • "Gold back in favor after U.S. election," Wall Str... • "Fearful investors should stock up on Gold Bullion... • $3,000 to $3,500 gold in 3 to 4 years, predicts Bu... • Green light for gold: Fed might buy $600 billion i... • Gold historically performs better in second presid... • MoneyWeek analyst "positive on Gold Bullion" • "Gold could reach $4,000 as early as September 201... • "Gold's performance is a measurement of the world'... ► October (71) ► September (26)

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Richard Davey Consultants to the banking industry to supply gold bullion http://www.goldbullionadvisors.com View my complete profile

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