News regarding gold prices has been flowing from the media on a frequent basis and the vast majority of it has been very good. The latest word from Bank of America Merrill Lynch analysts say more of the same; that the gold market is looking great and that gold should hit $2,400 per ounce by the end of 2014. A recent article by Tatyana Shumsky in the Wall Street Journal explained that those who buy gold today are likely to see it rise in value due to a number of factors, not the least of which is the often discussed third round of Quantitative Easing started by the Federal Reserve. This move alone has drawn responses from experts across the world of investing and many have stated in the press that they believe it will stimulate people to consider hard assets like gold and silver over cash.
A recent news article published by King World News quoted a top technical analyst from Citibank, Tom Fitzpatrick, as saying that gold is projected to make a move to as high as $2,400 within the coming 12 months.