A gold opportunity for investment in 2009
A top gold expert has predicted a steady rise for the commodity in 2009, saying that the continuing turmoil around the world was likely to drive up the price of what is generally considered a secure investment.
Mineweb.com's Lawrence Williams wrote that investors looking for a safe bet should look to either oil or gold in the New Year with his prediction that gold values could push back towards the four figures per ounce line.
"Gold is another likely beneficiary from continuing financial and political turmoil, but don't necessarily expect a sharp rise," he advised.
"Indeed gold was one of the few sectors which showed a profit overall in 2008, but gold stocks may still have a little catching up to do so there is potential here.
"Overall one would look to gold perhaps to regain the $1,000 an ounce level during the year and it could well then stay there which could again substantially outperform any general stock market recovery, if indeed there is one."
Jonathan Barratt, managing director of Commodity Broking Services in Sydney, agrees with Mr Williams' prediction: "Gold remains the best-performing metal for 2008," he told Bloomberg.
"All roads point to gold continuing its ascent in 2009."
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