HSBC says $1,900 Gold by Year-End

 

Since reaching an all-time record high of $1,923 per ounce last September, the price of gold has not fared particularly well.  The yellow metal has languished for most of 2012 amid considerable strength in the U.S. dollar, the ongoing European sovereign debt crisis, and the lack of further quantitative easing by the Federal Reserve.

Nonetheless, gold is due for a substantial rebound in the months ahead, according to analysts at HSBC.  In a report published this morning, the firm forecasted that the yellow metal will climb to $1,900 per ounce by year-end.