Global Experts See Gold Rising to $1,500 or More

Bank of America Merrill Lynch proffered several reason it feels gold will soar, including the fact that central banks worldwide are holding or cutting interest rates. Since investors stand to make nothing from interest-bearing assets, gold’s intrinsic value shines brighter.

The banking giant also feels continued global quantitative easing also creates concerns about inflation, an erosion of buying power that hammers both currency and dollar-denominated paper assets, but which has no effect on gold’s value.

Another expert, Barry Dawes of Paradigm Securities, citing high Asian demand, and a consequent tightening of the market in the West, says he thinks the precious metal could even rise to $1,900 an ounce.

Global Experts See Gold Rising to $1,500 or More