Capital Markets and Research strategist Matein Khalid claimed today (March 4th) that he would not be surprised to see Gold Prices head above $1,200 per ounce.
Writing on Zawya.com, he noted that a number of major economic events over the past year have played into the hands of anyone with the safe haven of a Gold Investment.
In particular, he highlighted the US government's decision to allow Lehman Brothers to fold and a number of other banks across the globe requiring bailouts, thus creating "unprecedented investor uncertainty".
He wrote: "Gold has been the winner asset class of the post millennium decade. I believe it is not unrealistic to predict $1,200 an ounce in the next twelve months."
While Gold Prices have stabilized in the past two weeks and appear to be heading down to the $900 per ounce mark, Mike Glaser from LaSalle Futures claimed last week that they will ultimately move higher again.
"I think we could see prices stabilize and trade sideways for a while before we get that final push higher," he told CEP News.
"I think investors should keep themselves open to acquire gold on these dips. A year from now we could see these prices as a bargain."
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