BNP Paribas was the latest investment bank to raise its gold forecasts amid the
yellow metals recent surge to new all-time highs. In a note to clients on
Wednesday, the firm wrote that In light of the latest economic and financial
developments, the assumptions underpinning our previous price forecast have
changed. As a result, our 2011 average gold price has been raised by US$125/oz
relative to our previous bullish forecast to US$1,635/oz.
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