Gold to Climb to $1,500 an Ounce in a Year, UBS AG Forecasts

By Kim Kyoungwha Bloomberg June 10, 2010

Gold will climb to $1,500 an ounce in the next 12 months on concern that Europe’s financial turmoil will escalate, fueling demand for the metal, according to UBS AG.

“The price of gold has yet further to rise,” Dirk Faltin, economist with UBS AG, and other analysts wrote in a monthly report. “Any sharp intensification of the sovereign-debt crisis in Europe could propel the gold price even higher, but downside risks should not be discarded lightly either.”… Read full article here.

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