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Message: Gold to track oil, hit $1,500/oz in 2011 -BoA

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Gold to track oil, hit $1,500/oz in 2011 -BoA

posted on Oct 06, 09 12:07PM

Dear shareholders,

In an effort to keep you up to date on the resource sector and more specifically gold bullion, please see the article titled “Gold to track oil, hit $1,500/oz in 2011 –BoA.”

Gold prices will hit $1,500 an ounce in 2011 when oil prices move back above $100 a barrel as emerging market growth creates shortages, Bank of America Merrill Lynch said on Monday.

Gold to track oil, hit $1,500/oz in 2011 -BoA

LONDON, Oct 5 (Reuters) - Gold prices will hit $1,500 an ounce in 2011 when oil prices move back above $100 a barrel as emerging market growth creates shortages, Bank of America Merrill Lynch said on Monday.

"For the world economy to resume growth of 5 percent, commodity supplies must expand by a similar rate, " said Francisco Blanch, head of global commodity research at the U.S. bank.

Click here to view article in its entirety.

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