Bear Stearns: Gold Could Go Over $800 if Fed Cuts Rates

Source: MarketWatch  (10/30/07)

...However, they also noted that if the Fed doesn't cut rates, then the price may test the $770 an ounce level.

Bear Stearns analysts said on a conference call discussing their outlook for metals and currencies on Tuesday that an expected quarter-point rate cut from the U.S. Federal Reserve on Wednesday could see gold prices moving over the $800 an ounce mark within a week. A half point cut would see a strong upside move in gold and silver, they added. However, they also noted that if the Fed doesn't cut rates, then the price may test the $770 an ounce level.

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