Incrementum Says Gold To Hit $2300 An Ounce

  • Posted Tuesday, June 24, 2014 at 08:11 PM

TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - Gold continued to consolidate recent gains as the yellow metal advanced $1.60 or 0.12 percent to $1,319.60 an ounce after stock prices in Europe fell on weak economic data from Germany. Silver gained 0.48 percent or $0.10 to $21.00 an ounce.

"If stock markets correct further, that would be a factor that would be supportive for the precious metals," said Peter Fertig, of Quantitative Commodity Research. "If we move higher and take out resistance at the April high (for Gold at $1,330.90), the market could move back towards the high we reached in mid-March, at around $1,392," he added.

Citi Research also sees Gold trending above $1,300 an ounce in the second half. “Our modestly constructive view on Gold appeared to unfold in earnest this month, with Comex bullion prices jumping to 13-week highs on Fed Chair Janet Yellen’s outlook for U.S. interest rates to remain low for the foreseeable future, weighing on the U.S. dollar, boosting inflation expectations and with growing concerns over the escalating violence in Iraq,” said Citi.

In a report titled “In Gold We Trust 2014,” Incrementum AG says Gold is still a good hedge against inflation and could climb to $1,500 an ounce within a year. “We believe that the monetary experiments currently under way will have numerous unintended consequences, the extent of which is difficult to gauge today,” said the report authored by Ronald-Peter Stoeferle and Mark Valek.

“Gold, as the antagonist of unbacked paper currencies, remains an excellent hedge against rising price inflation and worst-case scenarios.” Incrementum says that Gold, having formed a stable bottom, will soon end a long period of consolidation. “Our 12-month price target is the USD 1,500 level,” said the firm. “Longer-term, we expect that a parabolic trend acceleration phase still lies ahead. In the course of this event, our long-term target of USD 2,300 should be reached at the end of the cycle.”

It's important to protect your hard earned wealth during these times of economic uncertainty, and at Tangible Investments (learn about us here), it doesn't matter whether you're new to precious metals or a seasoned veteran, you will always be dealing with top industry experts. Take a moment and browse our vast selection of valuable collectibles, then call Toll Free 1.800.741.5014 today and let the helpful staff at Tangible Investments assist you in your next purchase or sale. Have you claimed your FREE COIN yet?

Get a Free Gold Investor's Guide
Are you sufficiently diversified? Our founder and president, Silvano DiGenova, explains why hard assets are essential to your portfolio. [Read more]
If you’re a collector of rare or beautiful items, you’re in the right place. We welcome you to visit the eBay store for Tangible Investments, America’s top buyer of rare coins! [Visit Now]
Get paid the most for your items from one of the nation’s most trusted firms. We buy bullion, coins, jewelry, watches, fine art, antiques, and collectibles. [Read More]