Gold price will touch $2,000/oz in Q4

Gold will see a bull run this year with price steadily moving upwards in each quarter and crossing $2,000/oz threshold in the fourth quarter
of 2012, say analysts.

The number of analysts predicting the price to cross $2,000/oz are increasing, insisting on the strong upside potential for the yellow
metal mainly due to quantitative easing (QE) measures by the US Federal Reserve and European Central Bank.

Echoing the recent Standard Chartered analysts’ comments, Bank of America-Merrill Lynch (BofA-ML) commodity analysts Sabine Schels and
Michael Widmer said: “We remain bullish on gold with a 12-month price target of $2,000/oz and see upside for the gold miners.”

Last week, Standard Chartered analysts also forecast that gold price would rally breaking above $2,000/oz at some point in the year ahead.

“We continue to believe gold should perform well if the Fed and the ECB print money again next year. Gold prices have moved up along with
the Fed’s balance sheet in recent quarters, and we would expect that to continue going forward. Just like it has in previous rounds of
quantitative easing, a third round of asset purchases, this time focused potentially on mortgages, should provide a further lift to
gold prices in 2012.