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UniCredit Raises 2011 Gold Price Target From $1,400 To $1,500

Tyler Durden's picture


It seems like it was a short month ago that UniCredit's Jochen Hitzfeld, the most accurate gold forecaster tracked by Bloomberg in the last
three quarters, raised his 2011 gold forecast from $1,250 to $1,400. Actually it was (link here). That target price lasted all of one month: earlier today the UniCredit analyst again revised his 2011 gold target price, this time to $1,500. As core revision catalysts UniCredit continues to see a "strong increase in investor demand" but the main driver will be continued risk aversion to "massive government stimulus measures" which have fuelled expectations of higher inflation further down the road. In other words, nothing major, just fine tuning. On the other hand, if China finally relents and admits it is indirectly hoarding gold, look for $2,000 to be the next Unicredit 2011 revised target.


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Tue, 10/12/2010 - 09:11 | Link to Comment technovelist
technovelist's picture

I'm going to stick with Jim Sinclair's call for $1650 next year.

Tue, 10/12/2010 - 09:14 | Link to Comment Kina
Kina's picture

To buy more shares in gold miners or not. I think this makes up my mind now, each pay keep adding shares.


Tue, 10/12/2010 - 10:20 | Link to Comment Clark_Griswold ...
Clark_Griswold Hedge Mnger's picture

I've got a boat load on Jan 11 calls, today is a little bloody, keeping an eye on the horizon its easy to deal with.  I added to my position three days ago when we had that drop and the junior minors.... its just moving to its trendline support.

Todays dollar move is Irelands noise, tomorrow will be somebody else, and sooner or later Uncle Ben will shine the spot light back on us....


    ... although now that Goldman has just recommended it, odds are that's the kiss of death for gold. 

Tue, 10/12/2010 - 11:06 | Link to Comment Turd Ferguson
Turd Ferguson's picture

For what its worth, check out this chart:

Four of the last five closes have been above the critical 520 level. Chances are the gold shares are about to take off into a significant rally.

Tue, 10/12/2010 - 11:48 | Link to Comment Clark_Griswold ...
Clark_Griswold Hedge Mnger's picture

Yeah I see it.... Its just hard agreeing with ANYTHING GS publishes to do, know what I mean.


I'm heavy GDX, GDXJ, SLW Leaps... added on the last dip, today is a little bloody, but I've got time built in the weather the noise as it were.  You called it a few weeks back on 1300s, I agree that we have a run coming up pretty soon.

Tue, 10/12/2010 - 09:16 | Link to Comment LoneStarHog
LoneStarHog's picture

$150 is NOT a spike; just more hyperbole. 

Tue, 10/12/2010 - 09:20 | Link to Comment rapacious rachel wants to know (not verified)
Tue, 10/12/2010 - 09:22 | Link to Comment Ratscam
Ratscam's picture

A rat who left the sinking ship loves physical Gold, Silver & Platinum, everything else is a scam.

Tue, 10/12/2010 - 09:23 | Link to Comment boogey_bank
boogey_bank's picture

here is an excerpt of song hongbing's  "currency wars"  about gold:

April 14, 2004, the family abruptly announced its withdrawal from the London gold pricing system, the
Ground-breaking news immediately shocked investors around the world. David. Rothschild explains: "We
London commodity markets (including gold) trading income in the last 5 years our business has dropped to less than
1% of total revenue, from the perspective of strategic analysis, (gold trading) is not our core business,
So we opt out of this market.
British "Financial Times" in April 16 once loud echo this statement, "As Keynes said, the (yellow
Gold) of the 'barbaric relic' is into the dust of history. When we see a respected Ross Mitchell
German family to withdraw from the gold market, and even called the most hardcore of 'gold bugs', the French bank also had to
Discretion of its gold reserves, gold as an investment product it has been closer to an end.
Coincidentally, the silver market in the Big Brother AIG Group on June 1 announced its withdrawal from the silver market pricing,

Voluntarily demoted to ordinary traders.
Two things from the inside reveals a strange.
Could Rothschild family really bearish gold? If so, why not drop in price to the 1999 pension
Lowest point in history out, but the momentum of gold and silver in 2004 rainbow quit it?
Another possibility is that the price of gold and silver will eventually be out of control, once the control scheme of gold and silver prices
Brought to light, fixing prices people will become the world's public enemy. Early to pick any clear relationship between gold, such as
If after 10 years, gold and silver prices really be a big problem, one can not blame him Rothschild family.

Tue, 10/12/2010 - 09:28 | Link to Comment bigdumbnugly
bigdumbnugly's picture

these guys with the constant updated predictions of the gold price are beginning to sound like auctioneers.  not that i mind...

Tue, 10/12/2010 - 09:31 | Link to Comment themosmitsos
themosmitsos's picture

Sooooo, probably time to take some profits & re-buy it ~1200 huh? ;)

Tue, 10/12/2010 - 09:35 | Link to Comment tmosley
tmosley's picture

I'm sure you mean "speculate in dollars", since gold is real money and the dollar is a burning pile of garbage.

Tue, 10/12/2010 - 09:40 | Link to Comment Silverhog
Silverhog's picture

Silver is still the sleeping giant here. 10:1 with Gold @$1650. Now that would be some news!

Tue, 10/12/2010 - 09:45 | Link to Comment Dagny Taggart
Dagny Taggart's picture

PMs for the holidays! Kill two birds with one stone and just buy them a bar of something. Put a pretty little ribbon around it. 

Tue, 10/12/2010 - 10:00 | Link to Comment Oh regional Indian
Oh regional Indian's picture

I saw it here recently and then looked it up on-line.

Most people heard of the black eagle fund? Google it. The three olympic sized swimming pool theory goes into the golden sinkhole.

Fact or fiction? Seems to matter not actually.

This one is a full reset.




Tue, 10/12/2010 - 14:38 | Link to Comment akak
akak's picture

And in other news, after reviewing the mountains of scrap gold littering the landscape, Jon Nadler of Kitco just revised his 2011 average gold price forecast, from $645 to $560.

Tue, 10/26/2010 - 03:03 | Link to Comment guccichanel
guccichanel's picture

I Love gucci and chanel. Some women do not mind buying replica handbags, while some women just love designer handbags if you can distinguish between good and bed from the replica handbag?you also can use low price get high quality enjoy?today use chanel handbag ?tomorrow carry gucci handbag?the day after tomorrow hermes handbad in your hand? this niceness all give the credit to low price?same argument you also can buy replica watches?buy DVDs louis vuitton...

Mon, 02/21/2011 - 03:54 | Link to Comment paragshah12
paragshah12's picture

What makes gold an excellent store of value (as it has been for more than 5000 years): it has few industrial uses; it does not degrade, oxidize, etc ...; it is not possible to inflate supply (THE problem with fiat currency) as the costs of extraction are high.

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