Credit Suisse Sees Gold at $1840 in Response to "QE3.5" (GLD) (IAU) (SLV)

October 12, 2012 10:00 AM EDT
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Credit Suisse (NYSE: CS) raised its 2013 forecast for precious metals. It sees gold at $1840 per ounce in 2013 and silver at $33.10 per ounce. At present gold trades at $1767 and silver trades at $33.75.

"The Fed is not finished: QE 3.5 is likely, possibly as soon as December in the form of on-going purchases of treasuries after Operation Twist expires," said Credit Suisse analysts.

"The Federal Reserve appears prepared to accept the political risks of further balance sheet expansion," continue analysts. "It seems probable that real yields can fall further into negative territory, which should be positive for gold."

SPDR Gold Shares ETF (NYSE: GLD) and iShares Gold Trust ETF (NYSE: IAU) are trading slightly lower intraday on Friday, down 0.1 percent.

iShares Silver Trust ETF (NYSE: SLV) is lower by 0.6 percent.

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