Another Bear Becomes Bull, CIBC Sees Potential For Gold To Hit $1,400

Kitco News’ general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices…

A former bearish bank is now jumping on the gold bandwagon, saying that it makes sense to own gold in an environment of growing market uncertainty and rising volatility.

“Our ratio analysis between gold and other commodity baskets (CCI), as well as the S&P 500 index, exhibits a well-defined relative outperformance picture, particularly in [Canadian dollar] terms,” wrote Sid Mokhtari and Roman Lutsiv, market analysts at CIBC, in a recent report.

Source: Another Bear Becomes Bull, CIBC Sees Potential For Gold To Hit $1,400