Since the beginning of August, the
The
Francisco Blanch, a global investment strategist with Bank of America, recently placed a price target of $2,400 an ounce on gold by the end of 2014. In a report called "Gold Under QE-Infiniti," he explains, "The new target reflects our view that the Fed will maintain mortgage purchases until the end of 2014, and will move to buy Treasuries following the end of Operation Twist this coming December." He later adds, "The combination of open-ended MBS purchases and the possibility of additional Treasury bond purchases starting in December could further lift gold
An additional $2 trillion on the Fed's balance sheet would push it to a whopping $5 trillion, in what will certainly go down in the history books as the greatest
Eric McWhinnie
Wall St. Cheat Sheet
Disclosure: Long EXK, AG, HL, PHYS