Deutsche Bank’s Brebner: Gold Headed To $2,000/oz By Early 2013 Amid Inflationary Bias By Central Banks

Daniel Brebner is head of metals research at Deutsche Bank. He has consistently been cited as one of the most accurate metals forecasters by Bloomberg.

by Sumit Roy, Hard Assets Investor:

HAI: We haven’t seen gold rally this year, despite all the negative headlines from the eurozone and even here in the U.S. This is in contrast to last year, when gold climbed relentlessly to its record high above $1,920 amid similar bad news. Why is gold behaving differently this time? Has it lost its safe-haven status?

Daniel Brebner: I don’t think it’s lost its safe-haven status. The gold price has been reacting to a risk-aversion environment, which is linked to perceptions of low growth globally. Growth issues have been emerging not only in Europe, but also increasingly in the U.S. and in China. This is creating deflationary pressures and deflationary risks, which is resulting in a liquidity squeeze.

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