2011-06-14 Standard Chartered $5,000 gold price forecast
An analysis by the Standard Chartered bank suggests that the gold price will triple due to shortages in gold production. The bank's research team looked at the production levels of 345 gold mines and came to the conclusion that the gold production will be only 3.6% annualy over the next five years. The demand for gold, however, has been growing at a much faster pace, driven by purchases of gold by Asian central banks. This forecast is unique for two reasons: first, most gold price predictions are based on inflationary and crisis scenarios, while this one looks at the supply-demand equation. Second, banks usually tend to be rather conservative in their gold price predictions. An interesting read, indeed.
Read more: CNBC, June 14, 2011
Note: Earlier this year, Standard Chartered predicted gold to reach $2,100 by 2014.
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Published on 18 June 2011
Posts: 2
Reply #1 on : Sat January 14, 2012, 18:47:03