Gold could reach US$1 500/oz by the end of this year and $1 650/oz by 2021 as global political and economic fears show no signs of abating and US interest rate hikes are likely to be "slow and low", Afriforesight chief energy economist and CEO Charles Kieck says.Gold is one of the commodities that Afriforesight is most bullish about over the next five years, though its economists are also forecasting steady and gradually improving prices for some steel-making materials and platinum group metals (PGMs).This means that apart from those who have already invested in SA’s most efficient gold producers, investors might also take a second look at companies with a more industrial metals focus, such as South32, Assmang, Kumba Iron Ore, Merafe Resources and Tharisa.Heidi Sternberg, mining and beneficiation sector specialist for the Public Investment Corp, says timing is everything in the commodities cycle, and the substantial write-downs of assets bought at the top of the cycle by the biggest...
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