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Message: BMO update on PM's
Ok Ok I said in my just earlier post that I was going to throw a few strands of lights at the tree but on second thought I am dragging my feet and in so doing, came across the BMO write up below.
" Precious Metals & Minerals - Set to Be Star Performers Yet Again (Report)
BMO Research has recently upgraded the outlook for gold and silver in order to reflect the macro environment, rising systemic risk and tightening physical fundamentals. Gold and silver remain among BMO''s preferred commodities. BMO Research has recently increased 2011E gold and silver prices to US$1,450/oz and US$28/oz, respectively. Gold and silver price assumptions beyond 2011E have been increased on average 8.2% and 18.7% respectively, with long-term assumptions unchanged. Silver and gold are expected to benefit from their quasi-money status, as investors continue to use precious metals to protect against a very uncertain outlook for western currencies, long-term inflation and systemic risk associated with European and U.S. debt. Risk is to the upside amid a possible more aggressive QE2 implementation. Robust demand growth and supply constraints are projected to tighten the physical market conditions for gold and silver. Silver is expected to be in a deficit position in 2011, making it an outperformer.
For full report including research disclosures: http://research-ca.bmocapitalmarkets.com/documents/9d7add68-ad32-4f5a-8256-d0f98f71501a.pdf"
For full report including research disclosures: http://research-ca.bmocapitalmarkets.com/documents/9d7add68-ad32-4f5a-8256-d0f98f71501a.pdf"
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