Higher prices have caused many to predict the end of the bull market. Morgan Stanley’s commodities team says this analysis is too simplistic.
Bank of America analysts expect continued policy easing by both the Fed and the European Central Bank (ECB) and expect gold prices to push higher.
Other analysts cite uncertainty about the fiscal cliff as a driving force for higher prices. Goldman Sachs is the Wall Street exception and the firm has trimmed its outlook for gold in 2013.
The World Bank’s view is more bullish toward copper and nickel, which are both expected to experience significant price increases over the year.

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