No $2,000 Gold Without QE3, BofA-Merrill Says

goingbroke

The gold bugs may be in for some disappointment if the U.S. economy’s soft patch real is temporary and Federal Reserve Chairman Ben Bernanke doesn’t have to conjure up another few hundred billion dollars worth of bond purchases.

The commodities research team at Bank of America Merrill Lynch has been on the gold bandwagon since setting a $1,500 price target in 2008, but commodity strategist Francisco Blanch said Tuesday that the best gains are in the rearview mirror and a cyclical peak is likely in the cards as the U.S. interest rate cycle starts to change.

the best gains are in the rearview mirror

mrearlygold

And no BofA-Merrill without a scam behind it.

ksammut

<< <i>The gold bugs may be in for some disappointment if the U.S. economy’s soft patch real is temporary and Federal Reserve Chairman Ben Bernanke doesn’t have to conjure up another few hundred billion dollars worth of bond purchases.

The commodities research team at Bank of America Merrill Lynch has been on the gold bandwagon since setting a $1,500 price target in 2008, but commodity strategist Francisco Blanch said Tuesday that the best gains are in the rearview mirror and a cyclical peak is likely in the cards as the U.S. interest rate cycle starts to change.

the best gains are in the rearview mirror >>



If the US economy's soft patch real is temporary ...... That is a real big if. Ben will be forced to keep on buying.

edmundfitzgerald

Great ! BofA is anti-gold, and just last week the Hedge Fund guys said gold is going lower.

2000/oz is now guarenteed.

OPA

I've been waiting for $1650 to roll around since January. It's unlikely that $2k is in the immediate future.

renman95

OK. Thanks BofA. I will now sell my gold.

Justacommeman

QE3 will never be called called QE3.................MJ

derryb

Don't lose sight of the fundamentals.

The Screaming Fundamentals For Owning Gold And Silver

jmski52

No $2,000 Gold Without QE3, BofA-Merrill Says

lol - so where's the big revelation? What a genius!

A re-election campaign without lots of loose money floating around is toast.

DuCrozat

In my opinion only, these guys are myopic. They anticipate the continued manipulation of the economy and markets.

Or they could just be deceitful.

Justacommeman

After todays pathetic jobs report I think QE3Lite is a lot more likely. Outside of Baleyville no one is hiring. Stimulus is inevitable. MJ

Mesquite

<< <i>No $2,000 Gold Without QE3, BofA-Merrill Says >>



Nonsense. QEs 1 and 2 were enough to ensure $2,000 gold IMHO - a QE3 will only accelerate the journey. Besides, who in their right mind listens to BofA-Merrill or takes investment advice from them.

OPA

<< <i>

<< <i>No $2,000 Gold Without QE3, BofA-Merrill Says >>



Nonsense. QEs 1 and 2 were enough to ensure $2,000 gold IMHO - a QE3 will only accelerate the journey. Besides, who in their right mind listens to BofA-Merrill or takes investment advice from them. >>



Yeah...we might see $2k gold when cows learn to fly

I forgot...$100 silver also.

johnny9434

BofA. Doesent Hugo Chavez have a major steak in that ? just wondering

pmcollectour

<< <i>
Yeah...we might see $2k gold when cows learn to fly

. >>



The Burlington County Farm fair is July 23-25th. We will be looking for cow flying instructors and report back if we find any.

guitarwes

Two of our cows completely cleared a brand new 47" field fence. Does that count or is it just not close enough?

OPA

<< <i>Two of our cows completely cleared a brand new 47" field fence. Does that count or is it just not close enough? >>



That's only a $1500 hurtle

KUCH

<< <i>In my opinion only, these guys are myopic. They anticipate the continued manipulation of the economy and markets.

Or they could just be deceitful. >>



It's a setup. "The little guy buys thinking he is running with the big dogs. The real big dogs stay hidden and will never step into the limelight."

Do the opposite.

jmski52

These days, it's always a setup. When I listen to CNBC market reporting, I wince every time they start torturing logic to explain why the market is so.........ebulent.....or........"bubbly"...........shall I say.....

In my rational mind, I simply cannot find the answer to how it works when you "create" money to float the stock market and to keep those promises of retirement assets alive for 99% of the US population. You don't create milk, or widgets or automobiles when you do that - only promisory notes.

And people bust their butts for those notes - the same notes that they hand out freely to everyone but the guys who work for a living.

Baley

After todays pathetic jobs report I think QE3Lite is a lot more likely. Outside of Baleyville no one is hiring.

No doubt, "the average" job market of our giant country kind of sucks. Especially for those with narrow, outdated experience who are looking for obsolete jobs.

However, Fox news just this minute is doing a story on the high-tech jobs boom in California. Got skills?

Mesquite

Don't listen to what they say, watch what they do.


Does this mean that QE3 is now a certainty?

ricko

The political season is almost here, and there is no doubt that some kind of financial shenanigans must be forthcoming.... Campaigning against the employment/financial picture right now would not be good for incumbents - ergo, something has to happen. Hang on... Cheers, RickO