The Wall Street Journal reported that Soros Fund Management LLC sold precious- metal assets, this fund is managed by George Soros a leaders in gold & silver investments. This has sent the metals world a buzz with speculation that Soros indicated the high in metals, stepping back to re-evaluate his position.
Mean while John Paulson & others stand pat seeing this as part of the natural ebb and flow of the market. I’m bullish on gold despite its current levels, Hal Lehr, Deutsche Bank’s managing director for cross-commodity trading, said in an interview in Buenos Aires. It could reach $2,000 an ounce in the next eight months. This is a bold prediction with gold sliding just below the $1,500 mark.
Metals continue today to show some signs that they are ripe for acquisition. While we believe that $2,000 is attainable given the current pressure on metals we might conservatively estimate closer to $1,800. In either case the prices today will be a bargain when gold attains those levels. Now is a great time to invest while the prices are still low.