Monday, April 16, 2012

Citigroup: Buy Gold

Citigroup said this morning in  a research note that it's bullish on nickel, gold, and palladium and bearish on copper and silver.

"The culmination of changes has resulted in a preference for base and precious metals over the bulk commodities. Within these various commodities the conviction calls are in palladium, nickel, and gold on the bullish side and copper and silver on the bearish side," the bank said.

They forecast nickel  to rise more than 17% to $22,819 a metric ton in 2013 from $19,430/ton in 2012.

Gold is forecast to rise 6.8% to $1,835 a troy ounce in 2013 from $1,718/oz in 2012.

Palladium is forecast to rise 15.5% to $925/oz in 2013 from $801/ton in 2012.

Meanwhile copper is forecast to drop 1.4% to $8,375/ton in 2013 from $8,491/ton while silver is forecast to fall 10% to $27/oz in 2013 from $30/oz in 2012.

You have to love the exactitude of these percentage gains 6.8% for gold 15.5% for palladium. They may have the directional trends correct, but they are blowing smoke with these exact percentages.


  1. Crap! I was betting on a Gold increase of 6.85% I better get back to my S&P's I guess.

  2. Palladium seems to be the best bet rising from 801 per TON to 925 per ounce zzzzzzzzzzzzzzzzzz