Merrill Lynch expected gold prices 2012

Merrill Lynch expected gold prices 2012 ; Gold futures were back at $1,600 an ounce on Tuesday, rallying alongside oil and stocks and helped by a weaker dollar to start the new year on a high note after a 10% yearly gain in 2011.

Some analysts remained optimistic about gold in 2012, in anticipation of a boost to the metal’s demand from quantitative-easing measures by the U.S. Federal Reserve and the European Central Bank.

Merrill Lynch analysts said they expected gold prices to average $1,850 an ounce in 2012, representing a 17.6% increase over the 2011 spot price average.

“We believe the high cost structure of the global gold sector should provide support to hold bullion above the $1,400 [per ounce] level,” they said. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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