Gold could climb back to $1500, Silver to $26 as Fed taper threat goes

US Gold futures and spot gold now stand a better chance to reach $1500 per ounce while silver prices could rise to $26 by year end as US Federal Reserve has indicated that it is not implementing tapering of stimulus as expected by September.

US Gold futures for December delivery shot up by $60 to $1360 an ounce while Silver futures for December delivery shot up to $23.015 levels.
"This could eventually take gold near to $1500 levels aided by a weaker dollar and safe haven buying as continued stimulus measures will be inflationary," Sreekumar Raghavan said. Silver is backed by sufficient industrial demand and hence could move upwards of $26, he added.

www.bullionstreet.com/news/gold-could-climb-back-to-1500-silver-to-26-as-fed-taper-threat-goes/5536