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Article posted May 01 2012, 4:52 AM Category: Economy Source: Business Insider Print

CITI: Gold will surge to $2,400 within 12 months


...We’ve done that again here, and the present pattern we look at is setup similarly to that of 2006. In 2006 we had a similar type of consolidation and sideways moving pattern, which eventually gave way to a significant push to the topside. We believe the same thing is happening again here.

We’ve already iterated a target in the more medium to long-term of $3,400, and over the next twelve months as high as $2,400. We believe gold is now setup, with a bullish weekly reversal last week, to make its next move higher.

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