Goldman Sachs raised its six-month target price for gold from $775 to $800 this morning. “Gold continues to gain support from the structural realignment in the relationship between gold and the U.S. dollar,” as statement from the bank read, “driven mainly by rising consumer and central bank demand in the rapidly growing emerging markets.”
Goldman also predicted $85 oil by the end of 2007. In another release today, forecasters at Goldman raised their entire oil outlook through the end of 2008, predicting an average price of $85 for 2008 and a high of $95 by the beginning of 2009.
With the recover of material and energy sector, Market is doomed to test the new high 14300 for DOWS pretty soon.
Safe play would be gold and materials.
2 comments:
Qianhu, Do you think we can see gold reach 1000 before election? That is my bet.
Thanks a lot for your blog, it really good and help !
hehe, I am not sure whether Gold can reach 1000, but 850, this ever historical high could be touched in my opinion which could be wrong.:)
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