The Globe and Mail reports in its Wednesday, April 20, edition that gold is one of this year's best
performing assets. A Bloomberg dispatch to The Globe reports that top-ranked forecasters say gold has room
to extend its advance, even as
the rebound shows signs of losing
steam.
Capital Economics and
Cantor Fitzgerald are bullish
as real interest rates will probably
stay low even if the United States Federal
Reserve raises borrowing
costs in response to higher inflation.
Bullion may surge to $1,350
an ounce by the year-end,
says Capital Economics economist Simona Gambarini. The metal will
continue to climb, though at a
slower pace, says Cantor's Rob
Chang.
Bullion had its best quarter in
almost three decades through
March after the metal regained
its haven status amid volatile
financial markets, the spread of
negative interest rates and as the
Fed pared back expectations of
further rate increases. Holdings
in exchange traded funds have
climbed almost 21 per cent this
year and there appears to be a
return of confidence, says Mr. Chang. Bloomberg says Ms. Gambarini was
the joint top gold forecaster and
Mr. Chang the best precious-metals
analyst for the
first quarter.
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