1
July
Gold to Reach $1300 in 2010, Most Accurate Forecaster Says: Chart of Day
1 July 2010 Bloomberg.com
Gold, on its best quarterly run since 1979, will reach $1,300 an ounce this year as investors seek to protect their wealth, said Anne-Laure Tremblay, an analyst at BNP Paribas SA and the most accurate second-quarter forecaster.
The chart of the day shows Tremblay’s forecast would mean a 4.7 percent gain by the end of the year. Her second-quarter forecast was accurate to within 0.1 percent. UniCredit SpA’s Jochen Hitzfeld, the next-closest forecaster in the survey of 18 analysts, said it may reach $1,350 this year. Bullion reached a record $1,265.30 on June 21 and has risen 12 percent since March, for a seventh straight quarterly increase.
