HE­LEN HEN­TON

STAN­DARD & CHAR­TERED BANK, BANKER

Finweek English Edition - - Cover -

BEAR­ISH on gold in the short term, av­er­ag­ing $613/oz in 2007 but break­ing out in 2008 to av­er­age $675/oz.

“The strength of the US dol­lar com­pletely dom­i­nates the gold price. We be­lieve gold will peak in the first quar­ter of 2007 as the mar­kets an­tic­i­pate fur­ther US Fed in­ter­est rate cuts. There­after, we’re in for a bout of dol­lar strength as the em­pha­sis falls on grow­ing the US econ­omy. Ex­pect gold to av­er­age $640/oz in the first quar­ter; $620/oz in the sec­ond; $590/oz in the third quar­ter, and $600/oz in the fourth quar­ter.”

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