- Financial Post -
Gold could surge to US$2,500 per ounce or higher by the end of 2011, according to J.P. Morgan commodity analysts Colin Fenton and Jonah Waxman.
Before Standard & Poor’s downgraded the United States’ debt rating, they thought spot gold could average US$1,800 by year-end. Now that view looks too conservative, the analysts told clients.
They also see a lot of upside for raw sugar prices, possibly doubling or more in a spike as a result of weakness in the U.S. dollar and rising inflation.