PNA 0.00% $1.84 panaust limited

go long for copper and gold

  1. 1,195 Posts.
    Time to go long on Copper & Gold, PNA is a no-brainer.

    Long-term copper prices to jump by 20 pct: Reuters Poll
    http://www.reuters.com/video/2011/10/04/long-term-copper-prices-to-jump-by-20-pc?videoId=222248758

    Goldman Research : COPPER, GOLD
    http://www.reuters.com/article/2011/10/04/research-goldman-commodities-idUSL3E7L416920111004

    ...The bank also lowered its 2012 copper price forecasts to $9,200 a tonne from $10,790, as Goldman economists cut their outlook for 2012 global GDP growth to 3.5 percent from 4.3 percent.

    "Escalating concerns about recent macro deterioration and the European sovereign debt problems have led to a sharp sell-off in base metals and in copper in particular," the analysts said in a note.

    However, Goldman Sachs sees substantial upside to prices from their current depressed levels and recommended taking long positions in copper.

    "The speed and magnitude of the copper sell-off suggests an accumulating short position in the market. Further, a potentially powerful upside catalyst lies ahead in China should policymakers shift to an easier stance and/or should lower prices entice Chinese buyers back into the market."

    On the precious metals front, Goldman Sachs saw further upside to gold prices this year and next amid the current low levels of U.S. real interest rates, and kept its 12-month gold price target of $1,860 per ounce.


    Copper prices to rally sharply on China demand: Macquarie
    http://www.reuters.com/video/2011/10/03/copper-prices-to-rally-sharply-on-china?videoId=222200432

    Asian appetite for copper stays firm, price to rise: Codelco
    http://www.reuters.com/video/2011/10/04/asian-appetite-for-copper-stays-firm-pri?videoId=222209833
 
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