6
October
Gold to track oil, hit $1,500/oz in 2011 – BoA
6 October 2009 Reuters
Gold prices will hit $1,500 an ounce in 2011 when oil prices move back above $100 a barrel as emerging market growth creates shortages, Bank of America Merrill Lynch said on Monday.
"For the world economy to resume growth of 5 percent, commodity supplies must expand by a similar rate, " said Francisco Blanch, head of global commodity research at the U.S. bank.
"With emerging markets likely to lead the global recovery, too much money chasing too few barrels could bring another spike in oil prices."
http://www.reuters.com/article/economicNews/idUSL54196720091005
