Friday, May 16, 2008

think we should see gold hit $1,600 an ounce in the next 12 months

Gold price on course to double says top manager
By Philip Haddon | 11:51:16 | 09 May 2008

"'I think we should see gold hit $1,600 an ounce in the next 12 months,' the top performing manager of the ABN AMRO US Opportunities fund says."

The top US equity manager François Mouté, believes the gold price should be 16 times the price of a barrel of oil and on a par with the price of platinum.

Speaking at Citywire's European Fund Selectors Forum in Zurich, Mouté (pictured above) emphasised the prospects for his holdings in gold mining companies by pointing to recent research into the historical price of gold.

'We have seen research which suggests gold should be 16 times the price of a barrel of oil,' the AAA-rated fund manager said.

He points out that the current price of an ounce of gold, $870, is only around seven times that of the oil barrel so the upside potential is considerable.

'I think we should see gold hit $1,600 an ounce in the next 12 months,' the top performing manager of the ABN AMRO US Opportunities fund says.

More… http://www.citywire.co.uk/personal/-/news/markets-companies-and-funds/content.aspx?ID=302771


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