Gold price may reach $2,000 in 2 years: JP Morgan

BEIJING--The price of gold may reach $2,000 a troy ounce within the next two years, the chief global commodity strategist at J.P. Morgan said Thursday. 

Marginal gold mines were starting to report production costs at that level, despite some market skepticism that such a level would be reached, Colin Fenton told reporters. 

Mr. Fenton forecast in August that gold could reach $2,500 an ounce by the end of 2011.

Gold topped out at around $1,924 an ounce in September, and has since fallen to around $1,610/oz. 

 Asad Khan
Financial Analyst  (CFB)
050-8774861
asad@cfb.ae