bobbyw24
03-05-2009, 08:22 AM
http://www.marketwatch.com/news/story/UPDATE-B-A-Merrill-Lynch/story.aspx?guid=%7BDBB7F8A0%2DF243%2D44C4%2D9D1E%2 DA4BD389BE3D1%7D
LONDON (MarketWatch) -- Bank of America Merrill Lynch upgraded their gold and silver forecasts, lifting their spot gold forecast for 2009 to $1,000 an ounce from $875, the 2010 gold forecast to $1,050 an ounce from $900, the 2009 silver forecast to $14.50 an ounce from $11 and the 2010 silver forecast to $15 from $11. "We believe the outlook for precious metals is much more promising. Increasing inflation expectations, a shift toward liquid assets, a rapid increase in credit risk, falling stock markets, and a wave of monetary and fiscal policies are contributing to fuel a rally in gold prices," the broker said. The broker upgraded Iamgold (IAM:, , ) to buy from neutral but lowered Hecla Mining
(HL:1.31, +0.04, +3.2%) to underperform from neutral. (Updates with rating changes on gold miners.
LONDON (MarketWatch) -- Bank of America Merrill Lynch upgraded their gold and silver forecasts, lifting their spot gold forecast for 2009 to $1,000 an ounce from $875, the 2010 gold forecast to $1,050 an ounce from $900, the 2009 silver forecast to $14.50 an ounce from $11 and the 2010 silver forecast to $15 from $11. "We believe the outlook for precious metals is much more promising. Increasing inflation expectations, a shift toward liquid assets, a rapid increase in credit risk, falling stock markets, and a wave of monetary and fiscal policies are contributing to fuel a rally in gold prices," the broker said. The broker upgraded Iamgold (IAM:, , ) to buy from neutral but lowered Hecla Mining
(HL:1.31, +0.04, +3.2%) to underperform from neutral. (Updates with rating changes on gold miners.