Selected Gold Forecasts
Date: June 25, 2007
DJ MARKET TALK:
Spot Gold Prices To Skyrocket Medium Term
June 15, 2007
Gold prices are going to skyrocket over the next 5-7 years, says Pierre Lassonde, Chairman of the World Gold Council and Vice Chairman of Newmont Mining Corp. "Gold (prices) will be four digits, I just don't know what the first one will be," he says. The current cycle mirrors the 1970s, with a spike in oil, and industrial metals prices such as copper and nickel...Long-term, dollar depreciation, spurred by the US twin deficits, will buoy gold as a safe haven investment, he says.
Emphasis added. The above information has been redacted from the article as it originally appeared on Dow Jones Newswires on June 15, 2007.
Business Standard
Gold may touch $1000:
JP Morgan
June 08, 2007
Gold may rise to more than $1,000 an ounce as demand from India, China and exchange traded funds increases and production of precious metal falls, according to JP Morgan Chase & Co., the third-largest US bank.
Gold, which has risen 5.2 per cent this year, may reach $850 an ounce in the "medium term," on the way to $1,000, analysts from JP Morgan led by John Bridges said in the report dated June 6. They didn't specify what the medium term was.
Gold-mining companies reduced output to a 10-year low of 2,471 metric tons in 2006, according to London-based researcher GFMS Ltd. Demand for gold from India, the world's largest buyer, rose 50 percent in the first quarter of 2007 while demand in China gained 31 percent, according to the World Gold Council.
"We would continue accumulating gold and silver positions looking to higher prices by year-end,'' the analysts said. "A four-figure gold price looks quite feasible to us given the tight supply demand situation in the gold market.'' ...
Emphasis added. The above information is as it originally appeared on BusinessStandard.com on June 8, 2007.
Gold to hit $US750 an ounce: Newmont
May 22, 2007
Newmont Mining Corp, the world's second largest gold producer, says the price of gold will hit $US750 an ounce by Christmas.
Regional group executive of Australia and Asia operation Russell Clark told delegates at the Paydirt gold conference in Perth that former Newmont president Pierre Lassonde believes gold will reach that level in the next seven months....
The above information has been redacted from the article as it originally appeared on theage.com.au on May 22, 2007.
Follow The Golden Dragon
By Curtis Hesler
April 23, 2007
...It is now official. The great Chinese investment fund has been established, and it is a whopper. They have announced that they will hold $650 billion of their reserves at ready, and they will invest the balance, along with $200 billion to $250 billion a year they expect to receive hereafter....
What will China buy? ...They will certainly spend a lion's share on raw materials and other commodities. This money will likely be the engine that will fuel the next major leg in the commodity bull market.
China will buy gold. They have every intention of being a significant player on the global scene, and to do that they will need to increase their gold reserves. Some experts estimate they will need to accumulate 2,000 to 3,000 tons of gold toward this goal. They will do this both directly and indirectly, with a little help from the population, which is enormous at some 1.3 billion souls. They have already legalized the ownership of gold for their citizens, and the citizenry is eagerly snapping up panda and "year of the pig" coins.
Consider this possibility. As the Chinese government trades depreciating dollars and other flat currencies they are forced to accept in their commercial activities for gold, they encourage their citizens to do the same--invest in gold. Then at some point when Western currencies are teetering or in a serious crisis, China can pull their trump card. They can call in the gold from the population (as Roosevelt did in 1933), and they can use it (along with government reserves) to provide gold backing for the yuan. They could suddenly end up with a highly desirable world reserve currency....
I firmly expect to see gold eventually hit $1,600 and silver to triple from today's price....
Emphasis added. The above information has been redacted from the article as it originally appeared on Forbes.com on April 23, 2007.
North American Precious Metals Weekly
April 9, 2007
Gold could break the $1,500/oz barrier within five years
In the April 3, 2007 edition of the Portfolio Manager's Review, David Rosenberg, Merrill Lynch North American Economist, discusses the resurrection of inflation expectations and its potential impact on gold prices. The following two paragraphs are taken from his research....
"We reiterate that gold is in a secular, not merely cyclical, bull market. Indeed, gold formed a very similar bottom formation in 1999 as the S&P 500 did back in 1982. And, if this plays out like other secular bull markets have in the past – emerging markets, bonds, stocks, oil, real estate – then this is a run that can be expected to last at least another five years and ultimately see bullion break the $1,500/oz barrier....
... if gold had merely kept pace with inflation during the past 25 years, the nominal price would have already cleared that $1,500/oz threshold. As we have already seen so far this cycle, gold has proven to be a very successful hedge against deflation ... and inflation fears (which is one reason why it is in a secular bull market)"....
Emphasis added. The above information has been redacted from the article as it originally appeared in Merrill Lynch's Gold & Precious Metals Weekly April 9, 2007.
U.S. Gold's McEwen forecasts $2,000/oz gold price by 2010
By Dorothy Kosich
May 17, 2007
Mining entrepreneur Robert McEwen, Chairman and CEO of U.S. Gold Corp., declared Wednesday that he expects gold prices to rise to at least $2,000 by 2010.
During an interview with Bloomberg television Tuesday, McEwen advised investors to buy gold...
...McEwen noted that less gold is being mined, and it is "costing more to produce it."
Emphasis added. The above information has been redacted from the article as it originally appeared on Mineweb.com on May 17, 2007.
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