The commodity complex's top-performing futures in 2012 will be gold, according to a high-flying investment house that falls in line with counterpart firms that also endorse the strength of bullion next year, Bloomberg reports.
Basing the forecast on the belief that the global economy will slow down and prompt investors to seek haven assets for wealth storage, analysts with Morgan Stanley issued the belief that gold will soar to prices of $2,200 per troy ounce while touching values as high as $2,464 per troy ounce.
The report penned by Hussein Allidina and peers at Morgan Stanley notes bullion has consistently performed strongly when under the pressure of recessions past. With a record price of $1,923.70 per troy ounce set exactly one month ago, gold has climbed in value this year primarily because of the sovereign debt scourge victimizing euro zone nations.
Both Credit Suisse and Goldman Sachs already have gone on record stating gold will drive high next year.
In less than three months, gold could achieve an 11th straight year of annual gains. However, more soon, the precious metal is set to put the kibosh on four consecutive weeks of losses, according to Reuters.
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