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Tuesday, December 21, 2010

Saxo Bank's predictions for 2011 US stock markets

Saxo Bank's predictions for 2011 US stock markets ; Crude oil and gold will be the hot commodities that will set record highs in 2011, says a forecast from Saxo Bank. Saxo Bank's predictions for 2011 include a record high in US stock markets, oil breaching $100 per barrel (before losing one third), Apple Inc. buying Facebook with its $51 billion war chest, and a 25% drop in the Aussie Dollar vs. Sterling as the UK economy powers ahead and Australia's property bubble bursts.

It said gold price is going to hit a record of $1800 per ounce in 2011, if the US dollar gains strength.

Looking at the 2011 gold price, "improvement in the US economy, rather than a need to help recovery" would widen the US trade deficit, Saxo warns, leaving President Obama "to twist the US Congress’s arm to pursue a weaker Dollar.

"Pressure piles on China and as investors flee to metals in search of some stability, gold shoots up to $1800 an ounce."

The prediction – made so Saxo Bank clients can "stress test" their portfolios, or buy long-shot options at very low cost – comes amid a flurry of Gold Price forecasts from analysts and traders.

"We are increasingly positive on gold," says Capital Economics, also in London. "The price of gold should continue to be supported by demand for a safe haven from other potential economic and financial shocks...reaching $1600 by the middle of 2011." For the latest updates PRESS CTR + D or visit Stock Market news Today

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