Salient to Investors:
Bill O’Neill at Merrill Lynch Wealth Mgmt said:
- He owns gold for diversification and catastrophe insurance, and expects prices to rise above $2,000 in 2013.
- Prospects for industrial metals are dim due to a lack of clarity on demand from China, their inventory levels.
- Global growth will improve slightly next year to 3.2 percent from 3.1 percent. China will expand 8.1 percent in 2013 versus 7.7 percent in 2012. US will slow to 1.5 percent in 013 versus 2.1 percent in 2012
- The US dollar will rise.