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ANZ sees gold hitting $5,800 an ounce in the second quarter
Gold prices appear to be consolidating around $5,000, but that doesn’t mean the precious metal will be stuck there for long, as one international bank has raised its second-quarter price target. In their latest note on gold, commodity analysts at ANZ said they expect prices to hit $5,800 an ounce in the second quarter, up sharply from their previous target of $5,400 an ounce. “Although recent volatility has raised questions about whether gold prices have peaked, we believe the rally is not yet mature enough to reverse anytime soon,” the analysts said. Gold’s sharp drop from last month's record highs near ... (full story)
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