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Gold on the move in the near future.

Posted on April 17, 2015 at 2:38 PM
http://www.bullionstreet.com/news/gold-may-reach-1500-an-ounce-by-2017-bank-of-america-merrill-lynch/6455


Gold may reach $1,500 an ounce by 2017: Bank of America Merrill Lynch
# Gold News  



Bank of America Merrill Lynch analysts think the worst is over for gold and they believe the yellow metal could rise to $1,500 an ounce by 2017.

NEW YORK (Scrap Register):
Bank of America Merrill Lynch analysts think the worst is over for gold and they believe the yellow metal could rise to $1,500 an ounce by 2017.

“We believe the upcoming Fed rate hike is the only major obstacle to sustained price rises. While a normalization in rates is likely, aggressive rate hikes are not our base case, which is a reason we believe the worst may be over for gold after the dreadful price collapse in 2013 and muted price movements in 2014,” analysts at Bank of America Merrill Lynch added.

Although the US economy seems to be moving forward, the analysts say it may not be all hunky dorey and therefore they expect delayed and more muted rate hikes, which would help gold break our of recent ranges, the Americam bank added.

According to the BofA Merrill Lynch Fund Manager Survey for April, “Investors see growing overvaluations in both bonds and equities and have signaled concern about a valuation bubble forming.”

A few of the survey’s findings:
--25% of respondents said global equities are currently overvalued – up from 23% in March and 8% in February, and the highest proportion since 2000.

--84% of respondents said bond markets are overvalued, up from 75% in March and the highest proportion in the survey’s history.

--A net 68% believe the United States is the most overvalued region.

--18% said currencies is the asset class most vulnerable to volatility, a rise of 5 percentage points.

--13% said the U.S. dollar is overvalued against the euro and the yen, sharply up from February’s 12% saying the dollar is undervalued.

All percentages are net percentages.


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