Tuesday, October 14, 2008

Gold could hit $1,500, say Merrill analysts (Just not Today)

The December contract was recently trading at $847.30 up $4.80.
From MarketWatch:
Gold prices could hit $1,500 as global plans to rescue the financial industry are set to increase inflation pressures, according to analysts led by Francisco Blanch at Merrill Lynch. "The unintended consequence of the ongoing financial bailout will be a return of inflationary pressures to the commodity markets"...MORE including some funny comments.
I'm not sure I'd use the word "unintended". Use the 'Search Blog' box, keyword gold, for our thinking. In two words: "not yet"