Gold to Gain to $2,000 on Money Printing

Gold to Gain to $2,000 on Money Printing, Deutsche Bank Says

Gold will probably rally to a record above $2,000 an ounce next year as central banks ramp up stimulus to sustain the recovery, according to Raymond Key, London-based global head of metals trading at Deutsche Bank AG.

“We’ll take out $2,000, we’ll go higher,” Key said in an interview in Hong Kong, where he attended the London Bullion Market Association’s annual conference. “That’s on the view that they’ll continue to print money.”

Bullion is headed for a 12th annual gain on concern that stimulus by governments and central banks around the world to promote recovery from the global recession and combat the fallout from Europe’s debt crisis will debase currencies and spur inflation. Holdings in gold-backed exchange-traded funds, or ETFs, expanded to the biggest ever last week.

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