27
October
Gold could hit $1,400 next year – ScotiaMocatta
27 October 2009 Forbes
ScotiaMocatta, the precious metals division of the Bank of Nova Scotia, said on Thursday gold prices could rise as high as $1,400 an ounce in 2010 as investors turn to the metal as a store of wealth.
A floor is likely to be established next year at $850 an ounce, the bank added.
'Gold is going through a very interesting time, but there are a multitude of factors influencing the price, some of which are quite contradictory, such as the presence of deflation and the fear of inflation,' it said in a research note.
