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Gold/Mining/Energy : DISCOVERY BOARD ~ PRECIOUS METALS ENERGY URANIUM OIL
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To: PaperPerson who wrote (4527)1/17/2012 7:38:17 PM
From: PaperPerson   of 4690
 
Commerzbank Looks For Gold To Regain Shine In 2012

16 January 2012, 12:03 p.m.
By Kitco News
http://www.kitco.com/

Commerzbank looks for precious metals to “regain their shine” during 2012, describing gold’s pullback from record highs during the latter part of 2011 as temporary weakness. “Skepticism among money managers is primarily to blame for the current phase of weakness on the gold market,” the bank says. “Gold should resume its upward trend as the year progresses, though. Strong investment demand coupled with central banks’ increasing interest in purchasing gold should help gold attain its record high again by year’s end.” Commerzbank looks for gold to average $1,725 an ounce for the year. Gold may be sideways during the early part of the year, the bank says. It looks for an average of $1,600 in the first quarter but an average of $1,900 in the fourth. “Following a rollercoaster ride in 2011, rising industrial demand coupled with growing investor interest should prompt a sustainable increase in the price of silver,” Commerzbank says. Analysts list a full-year average forecast of $34 for silver, with an average of $30 in the first quarter but increasing to $38 in the fourth.
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