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  • Gold at $1,200 is among Saxo Bank's outrageous predictions for 2013. The reason: A strong economic recovery in the U.S. saps demand for the safe-haven investment. Eventually, central banks take advantage of the low price and buy (At the bottom? That would be a first). [View news story]
    Interesting comments to our outrageous prediction on gold. I have to reiterate that it is just that - an outrageous prediction. Our official forecast for 2013 is a peak of 2075 and another year with a higher average price, somewhere in the region of 1850. Gold is suffering from end-of-year fatigue and is better left alone until Dec 27 as no new investment decisions by the leveraged community is initiated at this time of year. The move today down to its 200 DMA is probably required to shake out weak longs and give January buyers more confidence to engage early on. Happy holidays everyone. Ole H Saxo Bank
    Dec 18 04:55 PM | Likes Like |Link to Comment
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