Salient to Investors:
Bloomberg reports the overall bullish outlook of analysts extended for an 18th week. Buyers bought the more exchange traded products this quarter than in two years. Hedge funds et al more than doubled net-long position since July 24 to the most since Feb. 28.
Bank of America predicts gold at $2,000 by Q2 2013 and $2,400 by year-end 2014 if the Fed’s latest easing lasts until then. Deutsche Bank expects above $2,000 in Half1 2013 . Morgan Stanley expects gold to average $1,816 in 2013. Standard Chartered expects a Q2 2013 average of $1,900.
Kamal Naqvi at Credit Suisse said gold is one of the commodities that benefits most from quantitative easing – expects at least $2,000 an ounce.
John Paulson raised his stake in the SPDR Gold Trust by 26 percent in Q2 2012.
George Soros more than doubled his holdings.
James Moore at FastMarkets said physical gold purchases will help prices before the Indian wedding season and religious festivals later this year.
Michael Widmer at Bank of America Merrill Lynch questions how you can have a sustained rally in an environment of weak growth.
Bllomberg analyst survey median sees the S&P GSCI index will rise 2 percent by year-end.