Major Bottom in the Precious Metals Sector

Gold prices will rally again in 2012 to reach $2,000 to $2,500 per ounce according to a commodities strategist at Bank of America Merrill Lynch.

UBS have reiterated their bullish outlook for gold and believe gold will average $2,050/oz in 2012.

Barclays Capital says gold will average $2,000/oz in 2012 – which is 25% above today’s spot price.

John Embry, chief investment strategist of Sprott Asset Management, said the price of the yellow metal could possibly exceed $2,500 in the next 12 months....more