“Gold Prices Will Translucent USD1.940/Ounce”
Goldman Sachs said the price of crude oil, gold and copper in 2012 will strengthen this.
“We see gold and copper will reach its highest level in 2012 was, along with the improving economic fundamentals in 2012,” the investment bank said as quoted by Indiatimes, Saturday (14/01/2012).
Rise in metal commodity prices, he added, trailing minmyak price increase that will occur this year. “In our view, it’s just a matter of time when OPEC cut back production and hoist oil prices rose due to increased demand,” he explained.
In his notes, sanctions against Iran could push oil prices well into the $ 130-140 per barrel. He said the focus of oil markets is the potential closure of the Strait of Hormuz.
In addition, the bank also said gold prices are expected to continue to increase through 2012, reached USD1.940 per ounce for one year, due to the current low level of real U.S. interest rates.
“We expect U.S. interest rates remain low for longer, given our expectations for the U.S. economy U.S. economic growth remained slow until 2012,” added Goldman.
Earlier this week, tensions over Iran’s nuclear program and a new wave of sanctions against it could weigh on oil prices, while signs of U.S. economic recovery and China has encouraged the growth of world economy.
The U.S. will impose sanctions against Iran on the implementation of the European Union’s oil embargo against Iranian oil. Keteganganpun will emerge and rise between Iran and the West so that it has been possible to deploy near-term negative impact on the price of crude oil.
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