Bullion can't be considered a bubble until it tops $2,200, Deutsche Bank notes
Gold may outperform other commodities as the bull run in raw materials pauses amid slowing economies, while grains and oilseeds may jump on weather disruptions, according to participants at the World Commodities Week conference.
Commodities will likely lack direction for the next 12 months, meaning investors will focus more on relative-value trades, according to Tiberius Asset Management AG. Deutsche Bank AG favors
precious metals and is neutral on oil and industrial metals, Michael Lewis, head of commodities research at the bank, said today at the conference in London.
Bullion isn't in a "bubble" at current prices, he said. ...
Gold won't become a bubble unless prices rise to a record above $2,200 an ounce, while oil and industrial metals are vulnerable to risks associated with the so-called fiscal cliff in the U.S., said Lewis of Frankfurt-based Deutsche Bank.
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