Gold News

Gold to trade at $1,300 in January

Buying Gold will cost between $1,200 and $1,300 an ounce in January before rising higher as the year goes on.

That is the opinion of Eagle Mining analyst Keith Goode, who expects Gold Bullion to enjoy a strong year in 2010.

Speaking to Reuters, he said: "If you don't buy the dollar story, and a lot of people don't, then gold remains a safe investment."

The price of Investing in Gold had slid on Wednesday (December 30th), but rallied on Thursday as a result of further concerns over the dollar.

Investors are likely to favour gold purchases until it is clearer what action the US Federal Reserve will take to bolster dollar currency.

Last week, Suki Cooper, a precious metal analyst at Barclays Capital, argued that gold remains a long-term prospect and will deliver big gains, even if there is a correction in short-term, according to the Daily Telegraph.

Ms Cooper also highlighted fears over inflation as a contributing factor towards this trend, telling the news provider: "The investment sentiment towards gold is very positive."


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