Morgan Stanley Boosts Copper, Gold Forecasts For 2011 on Supply
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Morgan Stanley boosted its 2011 price forecasts for gold and copper, and recommended equities including Xstrata Plc and Kazakhmys Plc, because of expected supply constraints and a weak dollar.
“Accelerating weakness in the U.S. currency, driven by fears of renewed quantitative easing to confront sluggish U.S. growth, is proving to be a boon to commodity markets,” Morgan Stanley metals and mining analysts led by Peter Richardson said. Gains will be supported by “resilient growth in emerging markets,” they said.