Michael Blumenroth, a precious metal trader at Deutsche Bank, said on CNBC that the price of gold will continue its bullish trend, and it will eventually peak at $1,600 in 2012.He also made it clear that Deutsche Bank does not recommend any higher holding than the standard 5-10% of portfolio for insurance purposes.
He explained that Deutsche Bank's research team was at first bearish on gold, because they thought that this bull market in gold will be over soon, but after the problems in the euro-zone they changed their opinion. Now, Deutsche Bank believes that gold will continue to be a safe heaven.
On the wilder side, a guest on CNBC last Wednesday said that it's conceivable that gold could go to $36,000/oz.
Gold has reached record highs in recent weeks, but it will continue to rise, Ben Davies, CEO of Hinde Capital told CNBC Wednesday....
I could be really obtuse and say $36,000,” he said. “But actually it’s not as ridiculous as it might sound.”
If all the reported Fort Knox gold was re-valued at $36,000 per ounce, it would pay off all the debt in the US, he said....
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/tny_au_en_usoz_2.gif)
Bullion Exchanges is a trusted Precious Metals Seller established in New York City's Diamond District.
ReplyDeleteThey have a massive inventory of items like, precious metals that range from the gold and silver to the prestigious platinum and palladium.
They are offering a massive selection of products appealing to first time buyers and seasoned collectors.